Solution-Matching up with the order of the values

Matching up with the order of the values

Assignment Help Basic Statistics

Reference no: EM132153571

Ten thousand people each buy a raffle ticket. Each ticket costs $1. One hundred people are chosen as winners. Of these hundred people, eighty will win $1, nineteen will win $100, and one lucky winner will win $7000. Let X denote the profit (i.e., winnings minus cost) of a randomly chosen player of this game.

What are the possible values of X? Give them as a comma-separated list in increasing order. And what are their probabilities? Also give them as a comma-separated list, with matching up with the order of the values.

possible values:
probabilities:

B) Compute E(X) .Expectation

Reference no: EM132153571

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Matching up with the order of the values

Reference no: EM132153571

Reference no: EM132153571

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