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 21

Multiple Choice

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 ?

• A)14.552 in $2
• B)3.815 in $
• C)0.348 in $
• D)None of these choices are correct

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Definitions:

Validity

The extent to which a concept, conclusion, or measurement is well-founded and likely corresponds accurately to the real world.

Pretest

An evaluation or test conducted prior to launching a marketing campaign or product, used to gauge effectiveness or potential improvements.

Survey Questions

Designed queries or statements intended to gather information from respondents for research or feedback purposes.

Secondary Data

Information that has been previously collected for other purposes, but is being utilized for a current research project or analysis.