Senior citizens of a particular barangay organize a Christmas raffle bonanza.
One thousand raffle tickets are sold for P50.00 each. Each one has an equal chance
of winning. The first prize is a 32-inch LED TV worth P10,000.00, the second prize
is an electric oven worth P5,000.00 and the third prize is a grocery pack worth
P2,500.00. Let X denote the net gain from the purchase of one ticket.
a. Complete the table below showing the probability distribution of X.
9,950
4,950
P(x)
2,450
-50
b. Find the probability of winning any amount in the purchase of one ticket.
Let P(W) the probability of winning any amount
+
P(W) = __+
+ 를
+
P(W) =
c. Find the expected value of X, then interpret.
The expected value is equal to the product of net gain and the probability
of winning (in this case you have three chances of winning, you may win​