Question

A box contains 10 tickets, 2 of which carry a prize of ₹ 8 each. 5 of which carry a prize of ₹ 4 each and remaining 3 carry a prize of ₹ 2 each. If one ticket is drawn at random, find the mean value of the prize.

Answer 1

X:	8	8	4	4	4	4	4	2	2	2
P(X):	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`	`1/10`

Probability of having one ticket out of 10 ticket = `1/10`

μ = ∑x_ip

= `8 xx 1/10 + 8 xx 1/10 + 4 xx 1/10 + 4 xx 1/10 + 4 xx 1/10 + 4 xx 1/10 + 4 xx 1/10 + 2 xx 1/10 + 2 xx 1/10 + 2 xx 1/10`

= `(16 + 20 + 6)/10`

= `42/10`

= 4.2