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(Solved): A Lottery With 200 Tickets Sold Gives Five Prizes-grand Prize Of $50 2 Second Prizes Of $20 Each And ...

A lottery with 200 tickets sold gives five prizes-grand prize of $50 2 second prizes of $20 each and 2/3 prices of $5 each. Tickets for the prices are drawn at random, without replacement (no one can win two prizes). Define a random variable X as the amount won by a person who holds one ticket.

A)give the probability distribution for x

B)if a ticket cost $10 what is the probability of making a profit by buying a ticket?

Expert Answer

A) The probability to win $50 prize = 1/200 The probability to win $20 prize = 2/200 = 1/100 The probability to win $5prize = 2/200 = 1/100 Probab
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