Answer to Question #169291 in Statistics and Probability for jai

Question #169291

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


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Expert's answer
2021-03-08T19:06:01-0500

Total price of Tickets =$2000


Probability, P(X=1)=1002000=0.05P(X=1)=\dfrac{100}{2000}=0.05


P(X=2)=10002000=0.10P(X=2)=\dfrac{1000}{2000}=0.10


P(X=3)=3002000=0.15P(X=3)=\dfrac{300}{2000}=0.15


The probability Distribution table is given by-



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


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