SOLUTION: Suppose your state runs a "game" where you pay one dollar for a ticket. You then scratch a silver lm o the ticket to see whether you win a prize. Two ticket in a thousand pay $

Question 1099122: Suppose your state runs a "game" where you pay one dollar for a ticket. You then scratch
a silver lm o the ticket to see whether you win a prize. Two ticket in a thousand pay
$100, 20 tickets in a thousand pay $10, 100 tickets in a thousand pay $2, and 150 tickets
in a thousand pay $1. The remaining tickets win nothing and leave you behind by the
dollar you paid for them. Let the random variable X be your net gain per ticket in this
game.
Guidance:
For example, if you win $10, your 'net gain' (after paying $1 for the ticket) is $9. If your
ticket pays nothing, your 'net gain' (after paying $1 for the ticket) is $-1.
(a) Construct a table showing the probability distribution of X.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x===============p(x)======x*p(x)
99--------------0.002=====.198
9---------------0.02======.18
1---------------0.10------.10
0---------------0.15=======0
-1==============0.728======minus 0.728
the E(X)=0.478-0.728=-0.25 or a loss of 25 cents.
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