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  3. a school fundraiser sells scratch off tickets with the following...

Question: a school fundraiser sells scratch off tickets with the following...

Question details

A school fundraiser sells scratch off tickets with the following prizes: one prize of $1000, ten prizes of $50, twenty prizes of $25, and five hundred prizes of $1. There are 5000 tickets printed to be sold for $1 each.

1. Fill in the probability distribution table below.

Outcome __________ __________ __________ __________ __________

Probability __________ __________ __________ __________ __________

2. Find the expected value. (The average winning amount.)

3. Find the standard deviation of the winning amount.

4. What is the minimum number of tickets that must be sold for the school to meet its goal of making at least $1000?

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