The probability that one will win back at least the cost of three tickets is approximately 0.31744. This is solved using Binomial Distribution Model.
What is the Binomial Distribution Model?
The Binomial Distribution Model is a mathematical model of probability that allows one to decipher the probability of success of a group of possibilities within a range of specifically repeated processes.
What is the calculation for the above?
Given that non-losing tickets (n) is: 5
Tickets gotten with non-losing probability p = 2/5 = 0.4
Note that probability here is given as:
Pr [X ≥ 3] = [tex]\sum_{x=3}^{5}.[/tex][tex]\binom{n}{x}[/tex] pˣ (1-p)ⁿ⁻ˣ
→ [tex]\sum_{x=3}^{5}.[/tex][tex]\binom{n}{x}[/tex] (0.4)ˣ (0.6)⁵⁻ˣ
= 992/3125
= 0.31744
Learn more about binomial distribution at:
https://brainly.com/question/14565246
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