(Answered) Question a residential college plans to raise money by

Statistics

Question: A residential College plans to raise money by selling "chances" on a board. Fifty chances are sold. A player pays $10 to play; he or she wins $30 with probability p = 0:2. The profit to the College is

X = 50 · 10 - 30N; where N is the number of winners

Determine the distribution for X and calculate P (X > 0), P (X ≥200), and P (X ≥ 300).

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