8. At a raffle, 1500 tickets are sold at $2 each for four prizes of $500, S250, $150, and $75. You buy one ticket. What are the expected value and the square standard deviation of your gain?

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Q: 3 4 Percentage 44% 36% 15% 4% 1% a. Find the probability that a fisherman selected at random catches…

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Q: For a binomial random variable with a mean of 20 and 100 trials, what is the standard deviation? *…

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Q: The probability that a house in an urban area will be burglarized is 5%. A sample of 50 houses is…

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Q: Determine the standard deviation of the random variable, B(600,0.4).

A: Here we need to find the standard deviation of the given binomial random variable.