Assume that a lottery exists with exactly 100,000 tickets sold at a cost of $50

Question

Assume that a lottery exists with exactly 100,000 tickets sold at a cost of $50 per ticket. The following prizes will be awarded at end of the sales period. $50,000 20 $10,000 50 $5,000 100 $1.000 500 500 1,000 100 friends each buy one lottery ticket. They then pool their prize money and divide the total equally. What should each friend expect to get? $50 o so $20 0 None of the above $30 D Question 3 1 pts Assume that the time it takes students to complete a comprehensive final exam is a normally distributed random variable. Assume that the mean time is 90 minutes and that the standard deviation is 10 minutes.

Explanation / Answer

from above table :

expected amount to get fromLottery =$30

please revert for any clarificationn

x frequency rel frequiency P(x) xP(x) 50000 20 0.000 10.0 10000 50 0.001 5.0 5000 100 0.001 5.0 1000 500 0.005 5.0 500 1000 0.010 5.0 0 98330 0.983 0.0 total 100000 30.0

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