Topic Hypergeometric Probability Distribution Show development for the solution Suppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial
Topic Hypergeometric Probability Distribution Show development for the solution Suppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.4: Discrete Random Variables; Applications To Decision Making
Problem 1E
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Topic Hypergeometric Probability Distribution
Show development for the solution
Suppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets.
a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial distribution is used the result is 0.3174 (31.74%); but if the hypergeometric distribution is used, 0.3167 (31.67%) is obtained. Comment on these results.
b) What is the expected number of tickets that must be purchased to obtain one that pays at least its value? What is the value of the standard deviation?
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