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Please help me with all parts! Thank you so much! Q 1. You buy a lottery ticket to a lottery that costs $10 per ticket.
Please help me with all parts! Thank you so much!
Q 1.
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery there are one $400 prize, two $85 prizes, and four $25 prizes. Find your expected gain or loss. (Round your answer to two decimal places.) $ Additional Materials III eBook Complete the PDF. X P(X = X) X . P(X = x) 0.1 0 1 0.4 0.4 2 3 0.2 Part (a) Find the probability that X = 2. Part (b) Find the expected value. Additional Materials eBookStep by Step Solution
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