A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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I just need help solving these parts of the problem step by step and the answer. 

### Raffle Ticket Problem

During a fund-raising drive, 500 raffle tickets are sold at $1 each. The prizes are distributed as follows:

- **First Prize:** 1 ticket will win $20.
- **Second Prize:** 3 tickets will win $10 each.
- **Third Prize:** 10 tickets will win $5 each.

Each person buys only one ticket, and let \( x \) represent a ticket buyer's net winnings.

**Tasks:**

(a) Find the probability distribution of \( x \).

(b) Find the probability that a ticket buyer wins no more than $10.

(c) Find the mean of \( x \). Interpret the answer in plain language.
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Transcribed Image Text:### Raffle Ticket Problem During a fund-raising drive, 500 raffle tickets are sold at $1 each. The prizes are distributed as follows: - **First Prize:** 1 ticket will win $20. - **Second Prize:** 3 tickets will win $10 each. - **Third Prize:** 10 tickets will win $5 each. Each person buys only one ticket, and let \( x \) represent a ticket buyer's net winnings. **Tasks:** (a) Find the probability distribution of \( x \). (b) Find the probability that a ticket buyer wins no more than $10. (c) Find the mean of \( x \). Interpret the answer in plain language.
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