Question

The lottery commission has designed a new instant lottery game. Players pay $1.00 to scratch a ticket, where the prize won, X, (measured in $) has the following discrete probability distribution: P(X) 0.95 0.049 0.001 Which of the following best describes the standard deviation of X? Select one: o a. 14.552 in $2 ob. 3.815 in s O c.0.348 in $

Answer 1

Inderdhanush Page No. DATE: of Calculation of Expected value Price won (8) in $ EVX = 0.0X0.95 + 10 X 0.049 + 100 X 0.001 = 0 + 0.49 +0.10 = 0.59 Hence Evx = 0.59 Calculation of Standared deviation of Expected value Sox = S.Dx (x- Evx)'xP = (-0.59)x0.95+(10-0.59)%0.049 + (100 – 0-st) 20.00 0.3307 + 4.3389+ 9.8824 14.552 = 3.815 in $ deviation of X would Hence Standerd be $ 3.815 बेटी बचाओ बेटी पढ़ाओ