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For question #3 on assignment #5 for Statistics 301, the answers for e and f are missing. What are the steps to solving these questions?

For question #3 on assignment #5 for Statistics 301, the answers for e and f are missing. What are the steps to solving these questions?

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3. McDonald's is having a promotional lottery. They print many prize tickets to be peeled off cups and fries. The prizes and corresponding number of tickets are listed in the table; i.e., 1 in 5000 tickets is a $5,000 prize, 5 in 5,000 tickets are $1,000 prizes, etc. Suppose you have bought one of the tickets and are now interested in knowing more about the set up of the lottery. Use the information in the table to answer the questions. Assume there are so many prize tickets, we can treat this as sampling with replacement. Prize Amount ---m Probability 0.0002 0.02 0.1 .8788 (a Is the population of prize money normally distributed? ) (b) What is the expected value of prize money for 1 ticket? ((3) What is the standard error of prize money for 1 ticket? ) (d Suppose one McDonald's ends up giving out 800 of these tickets in a day. What is the probability they will pay out $2500 or more? (e) If the meal to get a ticket costs $6, what is the probability the McDonald's in part (d) will lose money off of the deal? (f) Explain why you are unable to approximate the chance that you and your 5 friends will win a total of at least $50 on your 6 tickets

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