Terry purchases 23 scratch off lottery tickets. Each ticket has a 6%6% chance of winning. What...
Terry purchases 23 scratch off lottery tickets. Each ticket has
a 6%6% chance of winning. What is the probability that she has her
first successful ticket on the 6th try?
(Round to 4 decimal places)
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Terry purchases 23 scratch off lottery tickets. Each ticket has
a 6%6% chance of winning. What...
Terry purchases 20 scratch off lottery tickets. Each ticket has a 9 % chance of winning....
Terry purchases 20 scratch off lottery tickets. Each ticket has a 9 % chance of winning. What is the probability that she has her first successful ticket on the 5 t h try? (Round to 4 decimal places) Geometric Probability
a scratch off lottery ticket has several possible prizes. there is a 0.000005 probability of winning...
a scratch off lottery ticket has several possible prizes. there is a 0.000005 probability of winning $50000. there is a 0.00004 probability of winning $10000. there is a 0.0003 probability of winning $2000, a 0.002 probability of winning 150. each ticket costs $4, find the expected value of buying 1 ticket.
You buy 19 scratch-off lottery tickets. The standard odds of winning are 1/200. What is the...
You buy 19 scratch-off lottery tickets. The standard odds of winning are 1/200. What is the probability that at least one of the tickets is a winner?
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles...
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles the envelopes before writing Willem's name on five of the envelopes. Let W be the number of winning tickets in the envelopes with Willem's name on a) What distribution could be used to model W7 Please name the distribution and give the parameter(s). State...
One of your friends likes buying scratch off lottery tickets. One day, upon reading in the...
One of your friends likes buying scratch off lottery tickets. One day, upon reading in the fine print that the probability that any given ticket is a winner is one in a thousand, he wistfully wishes aloud that he could afford one thousand tickets so that he could be sure to win. How many tickets would he have to buy to have a 90% chance of winning?
(1 point) A certain senior citizen purchases 51, "6-49" lottery tickets a week, where each ticket...
(1 point) A certain senior citizen purchases 51, "6-49" lottery tickets a week, where each ticket consists of a different six-number combination. The probability that this senior will win - (to win at least three of the six numbers on the ticket must match the six-number winning combination) on any ticket is about 0.018638. What probability distribution would be appropriate for finding the probability of any individual ticket winning? Part (a) How many winning tickets can the senior expect to...
Bling Chuck has risk-loving preferences, Uc(w) W2, and sometimes plays scratch-off tickets. Geral...
bling Chuck has risk-loving preferences, Uc(w) W2, and sometimes plays scratch-off tickets. Geraldine, Jack's sister, is risk averse with a utility function, UG(W)-W2. The chance for winning a prize is 1/10 and the price of the scratch-off ticket is $5. Each of them has an initial wealth of 100. What is the smallest prize that will cause Chuck to buy a ticket? What would be the expected payout of this $5 gamble? What is the smallest prize that will cause...
Suppose a scratch-off lottery ticket cost $1, and has the potential for a $1,000 grand prize....
Suppose a scratch-off lottery ticket cost $1, and has the potential for a $1,000 grand prize. You decide to buy one of these lottery tickets. Suppose that the random variable, X=Dollars Won, has the following probability distribution: x P(X=x) 1,000 .0001 10 1 .03 0 .95 a.) what is the probability that you will win $10? b.) how many dollars are you expected to win? c.) suppose your friend says," you will either win or loose with this ticket, that...
A state lottery sells instant-lottery scratch tickets. 11% of the tickets have prizes. Neil goes to...
A state lottery sells instant-lottery scratch tickets. 11% of the tickets have prizes. Neil goes to the store and buys 10 tickets. What is the probability that exactly two of the tickets will have prizes? Use a TI-83, TI-83 plus, or TI-84 calculator to find the probability. Round your answer to three decimal places.
An instant lottery ticket costs $2. Out of a total of $10,000 tickets printed for this lottery, 500 tickets contain a pr...
An instant lottery ticket costs $2. Out of a total of $10,000 tickets printed for this lottery, 500 tickets contain a prize of $5 each, 125 tickets have a prize of $10 each, 6 tickets have a prize of $1000 each, and 1 ticket has a prize of $5000. Let X be the random variable that denotes the net amount a player wins by playing this lottery. Write the probability distribution of x. Enter the exact answers. Enter your answers...
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles the envelopes before writing Willem's name on five of the envelopes. Let W be the number of winning tickets in the envelopes with Willem's name on a) What distribution could be used to model W7 Please name the distribution and give the parameter(s). State...
bling Chuck has risk-loving preferences, Uc(w) W2, and sometimes plays scratch-off tickets. Geraldine, Jack's sister, is risk averse with a utility function, UG(W)-W2. The chance for winning a prize is 1/10 and the price of the scratch-off ticket is $5. Each of them has an initial wealth of 100. What is the smallest prize that will cause Chuck to buy a ticket? What would be the expected payout of this $5 gamble? What is the smallest prize that will cause...
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