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MAT 112Mean and Variance of Discrete Probability Distributions Test Il. Application on finding the expected value (10 points) Directions: Accomplish the following word problem completely.

MAT 112Mean and Variance of Discrete Probability Distributions

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Test Il. Application on finding the expected value (10 points) Directions: Accomplish the following word problem completely. Each item is worth 5 points 1. A lottery that pays off P300 000 000 is made available for 10 000 000 tickets. Each ticket is costs P50. Suppose the variable Z gives the net winnings from playing the lottery. What is the expected gain for joining the lottery with only one ticket

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