Question

Can someone help me solve 1 and 2?

SE Homework 3 - Excel Sign in - o X Share File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Calibri On General General B D - X AutoSum" A - 11 D- O AA === A ESS ab Wrap Text Merge & Center - Cut LE Copy Format Painter Clipboard Fill ZIU Paste B IU , $ - % , 809 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles Clear Sort & Find & Filter Select Editing Font Alignment Number Cells A в One state lottery has 1,000 prizes of $1; 150 prizes of $10; 20 prizes of $75; 5 prizes of $305; 2 prizes of $1,280; and 1 prize of $2,700. Assume that 31,000 lottery tickets are issued and sold for $1. Question 1 What is the lottery's expected profit per ticket? Question 2 What is the lottery's standard deviation of profit per ticket? Suppose a quiz has 11 multiple choice questions. Each question has 5 answer choices. If a student takes the quiz and randomly guesses on every question.... Question 3 Find the probability the student gets between 2 and 7, exclusive, questions correct. 35 36 271 Action Ciod bo sobilis tudant Marath07 Loctione coccoct HWNotes HWExcelDirections HW Satisfied + @ -- 80% + - + + 4:50 PM * 9/12/2019 Type here to search Be A ô E X DA A O

Answer 1

x	P(x)	xP(x)	x2P(x)
0	0.0323	0.0000	0.0000
9	0.0048	0.0435	0.3919
74	0.0006	0.0477	3.5329
304	0.0002	0.0490	14.9058
1279	0.0001	0.0825	105.5381
2699	0.0000	0.0871	234.9871
-1	0.9620	-0.9620	0.9620
	total	-0.6521	360.3179
	E(x) =μ=	ΣxP(x) =	-0.6521
	E(x2) =	Σx2P(x) =	360.3179
	Var(x)=σ2 =	E(x2)-(E(x))2=	359.8927
	std deviation=	σ= √σ2 =	18.9708

1)

expected profit = -0.6521

2)

standard deviation =18.9708

3)

here this is binomial distribution with parameter n=11 and p=1/5

probability =

P(3<=X<=6)=

∑x=x1x2     (nCx)px(1−p)(n-x)    =

0.3806