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B. Jingle Bell Bucks is a lottery game that is released around Christmas time. Tickets are printed so that 5% of tickets result in a
B. Jingle Bell Bucks is a lottery game that is released around Christmas time. Tickets are printed so that 5% of tickets result in a 51:: win, 2.5% of the tickets result in a 55': win and H.553 of the tickets result in a Sl win. The remainder ofthe tickets contain no prize. For this question we will ignore the cost of buying the ticket. a] What are your expected winnings in buying a Jingle Bell Bucks lottery game ticket? What is the standard deviation? Explain the meaning of rlexpected winnings\" in light of the fact that the expected winnings is not one of the potential prizes of 5111], 550.51% b} Tounces goes out and buys 31 Jingle Bell Bucks tickets. Let T = the total winnings for the 31 tickets combined. What is the expected value for T? What is the standard deyiation for T? c] Find the probability that T is greater than $130? Explain your calculation...why was your method of calculating this probability accurate
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