Question

A lottery with 600 tickets gives one prize of Rs 200, four prizes of Rs 100, and six prizes of Rs 50. If the ticket costs is Rs 2, find the expected winning amount of a ticket.

Answer 1

Given, total number of tickets = 600 

Prizes to be given : One prize of Rs. 200 

Four prizes of Rs. 100 

Six prizes of Rs. 50 

Let ‘X’ be the random variable denotes the winning amount and it can take the values 200, 100 and 50.