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Suppose that out of 500 lottery tickets sold, 200pay off at least the cost of the ticket. Now supposethat you buy 5 tickets. Find the probability that youwill win back at least the cost of 3 tickets.

Sagot :

azikennamdi

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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