Answer to Question #193366 in Statistics and Probability for jack

Question

 

You will combine two numbers from 0 to 9. One entry will win PHP 6000, out of 100 total entries, if 

you match the last two digits of the final score in a basketball game. Let X be the net gain from 

the purchase of one entry. What is the mean or the expected value of a person who buys a ticket? 

Illustrate by constructing a probability distribution. 

Answer 1

Total number of ways in which we can choose two numbers $=^{10}C_2=45$

On entry will win PHP 6000

Probability that will win the entry $=\dfrac{45}{100}=0.45$

Probability that does not win $= \dfrac{55}{100}=0.55$

Probability distribution is-

Expected value of person who buys a ticket = $0. 45\times 6000+0.55\times 0$

$=2700$

Hence Expected amount of winning is php 2700.