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A random variable X represents the value of a ticket in a small charitable lottery, in
which 2000 tickets are sold, with 1 grand prize of $2500, 10 first prizes of $250, 20
second prizes of $100, and 60 third prizes of $50.
a. Construct a discrete probability distribution for X.
b. Calculate the expected prize value.

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A random variable X represents the value of a ticket in a small charit.pdf

  • 1. A random variable X represents the value of a ticket in a small charitable lottery, in which 2000 tickets are sold, with 1 grand prize of $2500, 10 first prizes of $250, 20 second prizes of $100, and 60 third prizes of $50. a. Construct a discrete probability distribution for X. b. Calculate the expected prize value.