(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 ​$500. Would you expect to make or lose money playing this​ lottery? Explain.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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A daily number lottery chooses three balls numbered 0 to 9. The probability of winning the lottery is
1/1000. Let 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
​$500. Would you expect to make or lose money playing this​ lottery? Explain.
 
 
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