You buy 19 scratch-off lottery tickets. The standard odds of winning are 1/200. What is the...

Question

Question

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?

Answer 1

Answer #1

P(At least one out of 19 tickets is a winner)

= 1 - P(None out of 19 is winner)

= 1 - (1 - 1/200)19

= 0.0908

Answer 2

Similar Homework Help Questions

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?
A lottery ticket says that the chances of winning are 1 in 5.5. Suppose you buy...

A lottery ticket says that the chances of winning are 1 in 5.5. Suppose you buy 8 of these lottery tickets. Find the probability that exactly one of them will be a winner.
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

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)
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.
A school fundraiser sells scratch off tickets with the following prizes: one prize of $1000, ten...

A school fundraiser sells scratch off tickets with the following prizes: one prize of $1000, ten prizes of $50, twenty prizes of $25, and five hundred prizes of $1. There are 5000 tickets printed to be sold for $1 each. 1. Fill in the probability distribution table below. Outcome __________ __________ __________ __________ __________ Probability __________ __________ __________ __________ __________ 2. Find the expected value. (The average winning amount.) 3. Find the standard deviation of the winning amount. 4. What...

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...
You can buy a lottery ticket for $500. The odds are as follows: 1 in 10...

You can buy a lottery ticket for $500. The odds are as follows: 1 in 10 tickets will pay $750. 1 in 100 tickets will pay $1000. 1 in 1000 tickets will pay $200,000. 1 in 10,000 tickets will pay $1,000,000. 1 in 100,000 tickets will pay $10,000,000. a. What is the expected value of the ticket to you? b. Should you buy the ticket? Explain your decision.
Suppose you buy 1 ticket for $1 out of a lottery of 100 tickets where the...

Suppose you buy 1 ticket for $1 out of a lottery of 100 tickets where the prize for the one winning ticket is to be $50. What is the expected value? (Round answer to the nearest cent.)

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...