Suppose 500 lottery tickets are sold, and among them, 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. Find the probability that you win at least the cost of 3 tickets. Hint: Prove that if the binomial distribution is used, the result is 0.3174 (31.74%); but if hypergeometric distribution is used, 0.3167 (31.67%) is obtained. Comment on these results. What is the expected number of tickets that must be purchased to obtain one that pays at least its value? What is the value of the standard deviation?

Suppose 500 lottery tickets are sold, and among them, 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. Find the probability that you win at least the cost of 3 tickets. Hint: Prove that if the binomial distribution is used, the result is 0.3174 (31.74%); but if hypergeometric distribution is used, 0.3167 (31.67%) is obtained. Comment on these results. What is the expected number of tickets that must be purchased to obtain one that pays at least its value? What is the value of the standard deviation?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...

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