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In: Statistics and Probability

Questions are based on the following information: The fine print on an instant lottery ticket claims...

Questions are based on the following information: The fine print on an instant lottery ticket claims that one in nine tickets win a prize.
A. What is the probability that you win at least once if you purchase five tickets?
B. What is the probability that you win at least twice if you purchase ten tickets?
C. What is the approximate probability that you win more than 120 times if you purchase 900 tickets?
D. Of all awarded prizes, 10% are worth Ghc1000, 20% are worth Ghc100, and 70% are worth $10. Find the expected winnings if you purchase a single ticket.

Solutions

Expert Solution

C.

D.

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orchestra answered 1 year ago
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