Question

Use the fact that the mean of a geometric distribution is-land the variance is ơ.q A daily number lottery chooses three balls numbered 0 to 9. The probability of winning the lottery isLet x be the number of times you play the lottery before winning the first time (a) Find the mean, variance, and standard deviation. (b) How many times would you expect to have to play the lottery before winning? It costs $1 to play and winners are paid S600. Would you 1000 expect to make or lose money playing this lottery? Explain (a) The mean isType an integer or a decimal.) The variance is (Type an integer or a decimal.) The standard deviation is (Round to one decimal place as needed.) b) You can expect to play the game times before winning Would you expect to make or lose money playing this lottery? Explain A. You would expect to lose money. On average you would win $600 once in every times you play. So the net gain would be $ O B. You would expect to make money. On average you would win $600 once in every times you play. So the net gain would be S

Answer 1