Question

Two thousand tickets are sold  each. One ticket will win , two tickets will win  each and three tickets will win  each. Let  denotes the net gain from the purchase of a randomly selected ticket

Answer 1

Total price of Tickets =$2000

Probability, $P(X=1)=\dfrac{100}{2000}=0.05$

$P(X=2)=\dfrac{1000}{2000}=0.10$

$P(X=3)=\dfrac{300}{2000}=0.15$

The probability Distribution table is given by-

Net gain = $\sum E(X)=0.05+0.20+0.45=0.70.$