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Rafe Tickets Problem Senior citizens of a particular barangay organize a Christmas raffle bonanza. One thousand raffle tickets are sold for Php 50.00 each. Each
Rafe Tickets Problem Senior citizens of a particular barangay organize a Christmas raffle bonanza. One thousand raffle tickets are sold for Php 50.00 each. Each one has an equal chance of winning. The first prize is a 32inch LED TV worth Php 10,000.00, the second prize is an electric oven worth Php 5,000.00 and the third prize is a grocery pack worth Php 2,500.00. Let X denote the net gain from the purchase of one ticket. a. Complete the table below showing the probability distribution of X: - 9,950 4950 2450 b. Find the probability of winning any amount in the purchase of one ticket. Let PM? be the probability of winning any amount. c. Find the expected value of X, then interpret
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