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Analyze the scenario and complete the following: Complete the discrete probability distribution for the given variable. Calculate the expected value and variance of the discrete
Analyze the scenario and complete the following: Complete the discrete probability distribution for the given variable. 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, 10 first prizes of $450, 35 second prizes of $150, and 60 third prizes of $30.
x | 0 | 30 | 150 | 450 | 4000 |
P (x) |
Round probabilities to 4 decimal places ii. E(X) = $0.00 Round to 2 decimal places Var(X) = 0.00 Round to 2 decimal places
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