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Analyze the scenario and complete the following: i. Complete the discrete probability distribution for the given variable. ii. Calculate the expected value and variance of
Analyze the scenario and complete the following: i. Complete the discrete probability distribution for the given variable. ii. 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 $3,500, 5 first prizes of $250, 20 second prizes of $125, and 60 third prizes of $20. 0.0000 0.0000 0.0000 0.0000 0.0000 P (x) Round probabilities to 4 decimal places X 0 20 125 250 3,500 0.0000 0.0000 0.0000 0.0000 0.0000 P(x) E E E Round probabilities to 4 decimal places ii. E (X) = $0.00 E Round to 2 decimal places Var (X) = 0.00 E Round to 2 decimal placesAssume X has a binomial distribution. Use the binomial formula, tables, or technology to calculate the probability of the indicated event: a.n=18,p=0.6 P(10 3X 5 13): 0.0000 5 Round to four decimal places if necessary b.n=22,p=0.8 P (17
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