Analyze the scenario and complete the following:

1. Complete the discrete probability distribution for the given variable.
2. Calculate the expected value and variance of the discrete probability distribution.

The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize of $4,000, 5 first prizes of $400, 25 second prizes of $150, and 50 third prizes of $50.

The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize of $4,000, 5 first prizes of $400, 25 second prizes of $150, and 50 third prizes of $50.

i.

xx	0	50	150	400	4,000
P(x)P(x)

Round probabilities to 4 decimal places

ii.

E(X)E(X) =

Round to 2 decimal places

Var(X)Var(X) =

Round to 2 decimal places