Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For numbers 23-25, refer to the problem. There are one thousand tickets that are sold for P50.00 each. One ticket will win P10,000.00, two
For numbers 23-25, refer to the problem. There are one thousand tickets that are sold for P50.00 each. One ticket will win P10,000.00, two tickets will win P5,000.00 and three tickets will win P1,000,00 each. Let X be the net gain from purchasing a randomly selected ticket. 23. What is the probability that you will win a prize if you buy 2 tickets? A. 998/1000 B. 2/500 24. Which of the following table of values show the probability distribution of X? C. 2/1000 D. 2 A. 10,000 1/1000 5,000 2/1000 1,000 -50 PCX) 3/1000 994/1000 4,950 2/998 950 9,950 1/999 B. -50 X P(X) 3/997 1/999 4,950 950 -50 9,950 1/1000 C. P(X) 2/1000 3/1000 994/1000 5,000 2/998 -50 10,000 1/999 D. X 1,000 P(X) 3/997 1/999 25. What is the mean or expected value of a person who buys a ticket? C. 27 A. 25 B. -25 D. -27
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
608c00a37eac5_208201.pdf
180 KBs PDF File
608c00a37eac5_208201.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started