Question
An instant lottery ticket costs$2 Out of a total of10,000 tickets printed for this lottery,500 tickets contain a prize of$5 each,75 tickets have a prize
An instant lottery ticket costs$2 Out of a total of10,000 tickets printed for this lottery,500 tickets contain a prize of$5 each,75 tickets have a prize of$10 each,6 tickets have a prize of$1000each, and1 ticket has a prize of$5000 Letxbe the random variable that denotes the net amount a player wins by playing this lottery.
Write the probability distribution ofx
.
Enter the exact answers. Enter your answers forx in increasing order.
x p (x)
Determine the mean and standard deviation ofx Round your answers to two decimal places.
On average, the players who play this game are expected ; gain, lose
gain lose$ Enter you answer; Meanper ticket with a standard deviation of$
Enter you answer; Standard deviation
.
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