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What is the missing value for the \( P(1) \) in the probability distribution below? HINT: The probabilities need to add up to 1. What is the mean of the distribution above? DO NOT ROUND YOUR ANSWER \[ \mu= \] What is the standard deviation above? DO NOT ROUND YOUR ANSWER \[ \sigma= \] According to the empirical rule, what are the lowest and highest reasonable \( \mathrm{x} \) values for the distribution above? ROUND YOUR ANSWERS TO 4 DECIMAL PLACES Highest reasonable value: Lowest reasonable value:
There is one \( \$ 5000.00 \) winner in a lottery of 500 tickets. If a ticket costs \( \$ 50 \), what is the expected value for the lottery? What is the expected value? Is the game fair? No, the mean is not zero Yes, the mean is positive No, the standard deviation is not 1 Yes, the mean is zero No, the mean is zero

Solution:- Question (1):- Given probability distribution table is as below:- x P(x) 0 0.285 1 P(1) 2 0.492 3 0.093

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