An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 750 tickets contain a prize of $5 each, 75 tickets have a prize of $10 each, 4 tickets have a prize of $1000 each, and 1 ticket has a prize of $5000. Let x be the random variable that denotes the net amount a player wins by playing this lottery. Write the probability distribution of x. Enter the exact answers. Enter your answers for x in increasing order. -2 X i 3 i P(x) 8 i ! 998 i 4998 i Determine the mean and standard deviation of x. Round your answers to two decimal places. Mean $i = Standard deviation = $ 53.8624 On average, the players who play this game are expected to lose く $ i per ticket with a standard deviation of $ 53.8624

An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 750 tickets contain a prize of $5 each, 75 tickets have a prize of $10 each, 4 tickets have a prize of $1000 each, and 1 ticket has a prize of $5000. Let x be the random variable that denotes the net amount a player wins by playing this lottery. Write the probability distribution of x. Enter the exact answers. Enter your answers for x in increasing order. -2 X i 3 i P(x) 8 i ! 998 i 4998 i Determine the mean and standard deviation of x. Round your answers to two decimal places. Mean $i = Standard deviation = $ 53.8624 On average, the players who play this game are expected to lose く $ i per ticket with a standard deviation of $ 53.8624

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...

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