Question

In: Math

The probability of winning in a certain state lottery is said to be about 1/9. If...

The probability of winning in a certain state lottery is said to be about 1/9. If it is exactly 1/9, what a random variable represents the distribution of the number of tickets a person must purchase up to and including the first winning ticket? Plot the PMF of this random variable. the distribution of the number of tickets purchased up to and including the second winning ticket can be described by what distribution?

Solutions

Expert Solution

Let X is a random variable shows the number of tickets person need to purchase including winning ticket. Here X has geometric distribution with parameter p = 1/9.

The pmf of X is:

Following table shows the pmf for some values:

X P(X=x)
1 0.111111111
2 0.098765432
3 0.087791495
4 0.078036885
5 0.06936612
6 0.061658773
7 0.054807798
8 0.048718043
9 0.043304927
10 0.038493268
11 0.034216239
12 0.030414434
13 0.027035053
14 0.024031158
15 0.021361029
16 0.018987582
17 0.01687785
18 0.015002534
19 0.013335585
20 0.011853854
21 0.010536759
22 0.009366008
23 0.00832534
24 0.007400303
25 0.006578047
26 0.005847153
27 0.005197469
28 0.004619972
29 0.004106642
30 0.003650349
31 0.003244754
32 0.002884226
33 0.002563756
34 0.002278895
35 0.002025684
36 0.001800608
37 0.001600541
38 0.001422703
39 0.001264625
40 0.001124111
41 0.00099921
42 0.000888186
43 0.000789499
44 0.000701777
45 0.000623802
46 0.00055449
47 0.00049288
48 0.000438116
49 0.000389436
50 0.000346166

Following is the histogram of the data:

-----------------

The distribution of the number of tickets purchased up to and including the second winning ticket can be described by negative binomial distribution with parameters r=2 and p=1/9.


Related Solutions

The odds of winning a certain lottery with a single ticket is 1 in 300,000,000. In...
The odds of winning a certain lottery with a single ticket is 1 in 300,000,000. In May and June, 200,000,000 tickets were bought. 1. Please assume the tickets win or lose independently of each other and give the exact probability that there was no winner during the two months. 2. Only using a basic scientific calculator, give an approximation to the same question from part 1. Explain why this approximation is a good one.
In a certain state lottery, a lottery ticket costs $1. In terms of the decision to...
In a certain state lottery, a lottery ticket costs $1. In terms of the decision to purchase or not to purchase a lottery ticket, suppose that the following payoff table applies: State of Nature Win Lose Decision Alternatives s1 s2 Purchase Lottery Ticket, d1 600000 -1 Do Not Purchase Lottery Ticket, d2 0 0 A realistic estimate of the chances of winning is 1 in 260,000. Use the expected value approach to recommend a decision. If required, round your answer...
What is the probability of winning the lottery "6 out of 49" with a single ticket...
What is the probability of winning the lottery "6 out of 49" with a single ticket a) a “six”, b) a “five”, c) a “four”, d) a “three”, e) to score at least one “three”? f) How many bills do you have to tick to have at least one “five”?
Show how to compute the probability of winning the jackpot in the megamillions lottery. The rules...
Show how to compute the probability of winning the jackpot in the megamillions lottery. The rules are at http://www.megamillions.com/how-to-play under ”How to play”. (a) First let us define an appropriate sample space Ω where Ω = {(i1, i2, i3, i4, i5;i6)|what has to hold about i1, . . . , i6}? (b) How many outcomes are in Ω? (c) What is the probability of winning the jackpot? (d) Do you have a better chance of winning the jackpot in powerball...
1. In an instant lottery, your chances of winning are 0.1. If you play the lottery...
1. In an instant lottery, your chances of winning are 0.1. If you play the lottery six times and outcomes are independent, determine the probability that (i) you win at most once. (ii) you lose all six times. (iii) you win exactly two times. Please show work will rate!!!
Pick any type of public lottery and find the probability of winning using combinations or permutations....
Pick any type of public lottery and find the probability of winning using combinations or permutations. Be sure to explain the rules to the lottery( how many numbers chosen, from what set of numbers, power ball numbers etc...) Then also explain how you achieved the probability you did. The lotteries could be from a different state or country as long as it is public
According to the California Lottery, the odds of winning the PowerBall is 1 in 292,201,338. This...
According to the California Lottery, the odds of winning the PowerBall is 1 in 292,201,338. This week’s estimated prize is $0.6 billion and one ticket costs $2. a. Calculate the Expected value and standard of deviation of playing the lottery. b. Would a risk-neutral person play the lottery? Explain. c. How about a risk-averse or risk neutral person? Explain.
Part 1 Lottery Statistics Create a program that will compute some statistics on winning lottery numbers....
Part 1 Lottery Statistics Create a program that will compute some statistics on winning lottery numbers. Download a .csv file from Winning Powerball Numbers containing a record of past winning numbers. Examine the formatting of this file. Create a dictionary that contains each winning number and the number of times that number was drawn. Print the 10 most frequently drawn numbers, and the 10 least frequently drawn numbers. HINT: You can’t sort a dictionary. Build a list that is ordered...
In the lottery of a certain state, players pick six different integers between 1 and 49,...
In the lottery of a certain state, players pick six different integers between 1 and 49, the order of the selection being irrelevant. The lottery commission then selects six of these numbers at random as the winning numbers. A player wins the grand prize of $1,200,000 if all six numbers that he has selected match the winning numbers. He wins the second and third prizes of $800 and $35 respectively, if exactly five and four of his six selected numbers...
1. (a) The chance of winning a lottery game is 1 in approximately 25 million. Suppose...
1. (a) The chance of winning a lottery game is 1 in approximately 25 million. Suppose you buy a $1 lottery ticket in anticipation of winning the $75 million grand prize. Calculate your expected net winnings for this single ticket and interpret the result, as indicated below: µ = E(x) = Your average LOSSES / GAINS (<—circle the correct all-caps word) would be −−−−−−−−−−−−− (<—fill in the blank) per game. (b) Now Repeat part (a), but assume a (more realistic)...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT