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One state lottery has 1200 prizes of $1, 115 prizes of $10, 15 prizes of $70, 5 prizes of $305, 2 prizes of $1280, and 1 prize of $2300. Assume that 37000 lottery tickets are issued and sold for $1.
1. What is the lottery's expected profit per ticket?
2. What is the lottery's standard deviation profit per ticket?
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A study of elephants is conducted to determine the average weight of a certain subspecies of elephants. The standard deviation for the population is 500 pounds.
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