Iii Five Thousand Lottery Tickets Are Sold For 1 Each One Ticket Will Win 1000 Two Tickets Will Win 500 Each And 1 (34.04 KiB) Viewed 204 times
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(iii) Five thousand lottery tickets are sold for $1 each. One ticket will win $1000, two tickets will win $500 each, and ten tickets will win $100 each. Let X denote the net gain from the purchase of a randomly selected ticket. (a) Construct the probability distribution of X. (b) Find the expected value of X. (C) Find the variance of x.
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