00:01
So first let us see total tickets.
00:04
So total tickets are 10 ,000 and we have six winning tickets.
00:15
Then for first price, the amount is 5 ,000.
00:22
For second price, the amount is $2 ,000.
00:29
Whereas for third price, the amount is $2 ,000.
00:35
Amount is $1 ,000 and we have three more prices which are $500 each.
00:47
So it is given that x denotes net winning price.
00:55
So for x equal to minus 1 that means the cost of each ticket is $1.
01:03
So if we did not if we don't get any of these six winning tickets then the net winning will be minus $1.
01:11
So probability of x is equal to 10 ,000 minus 6.
01:18
That means 3994 divided by total tickets 10 ,000.
01:21
So this is equal to 0 .3994.
01:24
Now if net winning is 5 ,000, that means we need to select the first price ticket.
01:32
Then the probability of selecting the ticket is 1 by 10 ,000 which is equal to 0 .301...