Use the fact that the mean of a geometric distribution is

Last updated: 12/12/2023

Use the fact that the mean of a geometric distribution is and the variance is o P P 1 A daily number lottery chooses two balls numbered 0 to 9 The probability of winning the lottery is Let x be the number of times you play the lottery before winning the first time 100 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 700 Would you expect to make or lose money playing this lottery Explain a The mean is Type an integer or a decimal The variance is Type an integer or a decimal The standard deviation is Round to one decimal place as needed b You can expect to play the game times before winning Would you expect to make or lose money playing this lottery Explain OA You would expect to lose money On average you would win 700 once in every OB You would expect to make money On average you would win 700 once in every CHI times you play So the net gain would be times you play So the net gain would be