Flashcards: Develop Probability Distribution for Random Variable with Theoretically Probabilities: CCSS.Math.Content.HSS-MD.A.3

A winning raffle ticket has the following payout scheme:

$1 with probability .25

$10 with probability .35 

$100 with probability .29

$1,000 with probability .1

$10,000 with probability .01

What is the expected payout for a winning raffle ticket?

 

$122.50

$628.75

$100

$39.40

$232.75

All Common Core: High School - Statistics and Probability Resources

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