Suppose a person is thinking about entering a MarioKart competition at their local videogame store. The competition costs 20 dollars to enter. The competition consists of 10 matches. The person knows that their chance of winning each match is 65% and that each match is independent of the others. The payout for the competition is: WIN ALL 10 Matches: 500 Dollar Prize WIN 9 Matches: 250 Dollar Prize WIN 8 Matches: 50 Dollar Prize OTHERWISE: Nothing 1) Suppose that this person enters the competition 5 times. What is the probability they break even? (Hint: To break even they would need to win the $50 prize twice and lose the other three times. Use a modified binomial to calculate this probability

Suppose a person is thinking about entering a MarioKart competition at their local videogame store. The competition costs 20 dollars to enter. The competition consists of 10 matches. The person knows that their chance of winning each match is 65% and that each match is independent of the others. The payout for the competition is: WIN ALL 10 Matches: 500 Dollar Prize WIN 9 Matches: 250 Dollar Prize WIN 8 Matches: 50 Dollar Prize OTHERWISE: Nothing 1) Suppose that this person enters the competition 5 times. What is the probability they break even? (Hint: To break even they would need to win the $50 prize twice and lose the other three times. Use a modified binomial to calculate this probability

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Over the span of a month, a school tracks student choices at lunch. They find that 56% of all students buy milk with lunch and 32% buy a piece of fruit. If 22% of all students buy both milk and fruit, which of the following represents the percent of students who buy neither? (1) 28% (3) 42% (2) 34% (4) 46%
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Joe and Maggie take turns mowing the lawn each week. Maggie suggests they try a new system for determining who should mow the lawn. Each week, they will roll two dice and determine the sum of the values. Since the highest possible sum is 12, Maggie will mow the lawn if the sum is 6 or less, and Joe will mow the lawn if the sum is greater than 6. Before agreeing to Maggie's suggestion, Joe wants to check if this plan would be fair. He decides to roll a pair of dice and determine the sum of the values 100 times. The graph shows the results of the 100 trials. Based on his simulation, should Joe agree to Maggie’s plan? (yes/no), because a sum greater than 6 is likely to occur (more than, less then, equal to)(30%, 50%, 75%) of the time
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