The probability of being killed by a stroke of lightning, calculated using the frequency theory of probability, is approximately 1 in 3 million. That is about 58 times greater than was the probability of winning the jackpot ($390 million) in the Mega Millions lottery in the United States in March of 2007. In that lottery the chances of buying a successful ticket were 1 in 175,711,536. One of two winning tickets was in fact purchased by a Cana- dian truck driver. If he had known the size of the jackpot, and that it would be divided by two winners, what would the expectation value of the $1 ticket he bought have been, at the time he bought it?
The probability of being killed by a stroke of lightning, calculated using the frequency theory of probability, is approximately 1 in 3 million. That is about 58 times greater than was the probability of winning the jackpot ($390 million) in the Mega Millions lottery in the United States in March of 2007. In that lottery the chances of buying a successful ticket were 1 in 175,711,536. One of two winning tickets was in fact purchased by a Cana- dian truck driver. If he had known the size of the jackpot, and that it would be divided by two winners, what would the expectation value of the $1 ticket he bought have been, at the time he bought it?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Transcribed Image Text:The probability of being killed by a stroke of lightning, calculated using
the frequency theory of probability, is approximately 1 in 3 million. That
is about 58 times greater than was the probability of winning the jackpot
($390 million) in the Mega Millions lottery in the United States in March
of 2007. In that lottery the chances of buying a successful ticket were 1 in
175,711,536. One of two winning tickets was in fact purchased by a Cana-
dian truck driver. If he had known the size of the jackpot, and that it
would be divided by two winners, what would the expectation value of
the $1 ticket he bought have been, at the time he bought it?
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