The Lottery Commission Has Designed a New Instant Lottery Game $$\begin{array} { | c | c | } \hline X & P [ X ] \\\hline 0 & 0.95 \\\hline 10 & 0.049 \\\hline 100 & 0.001 \\\hline\end{array}$$

question 52

Short Answer

The lottery commission has designed a new instant lottery game. Players pay $1.00 to scratch a ticket, where the prize won, X, (measured in $) has the following discrete probability distribution : $$\begin{array} { | c | c | } \hline X & P [ X ] \\\hline 0 & 0.95 \\\hline 10 & 0.049 \\\hline 100 & 0.001 \\\hline\end{array}$$ Which of the following best describes the standard deviation of X ? $\begin{array}{|l|l|}\hline A&14.552 \text { in } \$^{2}\\\hline B&3.815 \text { in } \$ \\\hline C&0.348 \text { in } \$ \\\hline D&\text {None of these choices are correct }\\\hline \end{array}$

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Definitions:

Deposit

A deposit is a sum of money placed in a bank account or paid as an assurance for the fulfillment of a contract, which may be refundable under certain conditions.

Power of Attorney

A legal document authorizing one person to act on another's behalf in legal matters or decisions.

Seal

Historically, a device or substance used to stamp or mark documents, implying authenticity and intention to be legally bound.

13th Century

A period extending from the year 1201 to 1300, marking significant historical, cultural, and technological advancements.