# Introduction to Probability Distributions

Four possible prizes are being awarded by a real estgat developer to people who will look at new property. The prizes are being awarded based on a blind drawing with the following probability distribution:

x P(x)

$ 10 0.80

$ 20 0.10

$ 100 0.08

$ 1000 0.02

a What is the expected prize award?

b What is the standard deviation for the prize award?

c If one person is allowed to have two chances at the drawing and keep the

highest prize, what is the probability that she will leave with at least $100?

https://brainmass.com/statistics/probability/introduction-to-probability-distributions-140913

#### Solution Summary

This Solution contains calculations to aid you in understanding the Solution to these questions.

$2.19