Statistics: The Art and Science of Learning from Data (4th Edition)
4th Edition
ISBN: 9780321997838
Author: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 6.1, Problem 7PB
Playing the lottery The state of Ohio has several statewide lottery options. One is the Pick 3 game in which you pick one of the 1000 three-digit numbers between 000 and 999. The lottery selects a three-digit number at random. With a bet of $1, you win $500 if your number is selected and nothing ($0) otherwise. (Many states have a very similar type of lottery.) (Source: Background information from www.ohiolottery.com.)
- a. With a single $1 bet, what is the
probability that you win $500? - b. Let X denote your winnings for a $1 bet, so x = $0 or x = $500. Construct the probability distribution for X.
- c. Show that the
mean of the distribution equals 0.50, corresponding to an expected return of 50 cents for the dollar paid to play. Interpret the mean. - d. In Ohio’s Pick 4 lottery, you pick one of the 10,000 fourdigit numbers between 0000 and 9999 and (with a $1 bet) win $5000 if you get it correct. In terms of your expected winnings, with which game are you better off—playing Pick 4, or playing Pick 3? Justify your answer.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
XYZ company has designed a new lottery scratch-off game. The player is instructed to scratch off one spot: A, B, or C. A can reveal "loser," "win $1," or
"win $50." B can reveal "loser" or "take a second chance." C can reveal "loser," or "win $500." On the second chance, the player is instructed to scratch off
D or E. D can reveal "loser" or "win $1." E can reveal "loser" or "win $10." The probabilities at A are 0.9, 0.09, and 0.01 respectively. The probabilities at B
are 0.8 and 0.2. The probabilities at Care 0.999 and 0.001. The probabilities at D are 0.95 and 0.05. The probabilities at E are 0.5 and 0.5. Calculate the
expected value of the game and provide recommendations to a decision-maker
In American roulette, the wheel has the 38 numbers, 00, 0, 1, 2, ..., 34, 35, and 36, marked on equally spaced slots. If a player bets $1 on a number and wins, then the player keeps the dollar and receives an additional $35. Otherwise, the dollar is lost.
In the Florida State Lottery, you can bet $1 by selecting 3 numbers from 0 through 9 inclusive. You must select the same three numbers and they must be selected in the same order to win the $200 prize. What is the probability of winning the $200 prize?
Chapter 6 Solutions
Statistics: The Art and Science of Learning from Data (4th Edition)
Ch. 6.1 - Rolling dice a. State in a table the probability...Ch. 6.1 - Dental Insurance You plan to purchase dental...Ch. 6.1 - San Francisco Giants hitting The table shows the...Ch. 6.1 - Best of three In a best out of three series played...Ch. 6.1 - Grade distribution An instructor always assigns...Ch. 6.1 - Selling houses Let X represent the number of homes...Ch. 6.1 - Playing the lottery The state of Ohio has several...Ch. 6.1 - Roulette A roulette wheel consists of 38 numbers,...Ch. 6.1 - More Roulette The previous exercise on roulette...Ch. 6.1 - Prob. 10PB
Ch. 6.1 - Profit and the weather From past experience, a...Ch. 6.1 - Buying on eBay You are watching two items posted...Ch. 6.1 - Selling at the right price Some companies, such as...Ch. 6.1 - Uniform distribution A random number generator is...Ch. 6.1 - TV watching A social scientist uses the General...Ch. 6.2 - Probabilities in tails For a normal distribution,...Ch. 6.2 - Probability in graph For the normal distributions...Ch. 6.2 - Empirical rule Verify the empirical rule by using...Ch. 6.2 - Central probabilities For a normal distribution,...Ch. 6.2 - z-score for given probability in tails For a...Ch. 6.2 - Probability in tails for given z-score For a...Ch. 6.2 - z-score for right-tail probability a. For the...Ch. 6.2 - Prob. 23PBCh. 6.2 - Prob. 24PBCh. 6.2 - Prob. 25PBCh. 6.2 - Coffee Machine Suppose your favorite coffee...Ch. 6.2 - Energy use An energy study in Gainesville,...Ch. 6.2 - Birth weight for boys In the United States, the...Ch. 6.2 - MDI The Mental Development Index (MDI) of the...Ch. 6.2 - Quartiles and outliers Refer to the previous...Ch. 6.2 - April precipitation Over roughly the past 100...Ch. 6.2 - Tall enough to ride? A new roller coaster at an...Ch. 6.2 - SAT versus ACT SAT math scores follow a normal...Ch. 6.2 - Relative height Refer to the normal distributions...Ch. 6.3 - Kidney transplants In kidney transplantations,...Ch. 6.3 - Compatible donors Refer to the previous exercise....Ch. 6.3 - Symmetric binomial Construct a graph similar to...Ch. 6.3 - Number of girls in a family Each newborn baby has...Ch. 6.3 - Prob. 39PBCh. 6.3 - Prob. 40PBCh. 6.3 - Passing by guessing A quiz in a statistics course...Ch. 6.3 - NBA shooting In the National Basketball...Ch. 6.3 - Season performance Refer to the previous exercise....Ch. 6.3 - Is the die balanced? A balanced die with six sides...Ch. 6.3 - Prob. 45PBCh. 6.3 - Prob. 46PBCh. 6.3 - Prob. 47PBCh. 6.3 - Checking guidelines For Example 13 on the gender...Ch. 6.3 - Class sample Four of the 20 students (20%) in a...Ch. 6.3 - Prob. 50PBCh. 6.3 - Binomial assumptions For the following random...Ch. 6 - Grandparents Let X = the number of living...Ch. 6 - Straight or boxed? Consider a Pick-3 lottery such...Ch. 6 - Auctioning paintings A collector is interested in...Ch. 6 - Prob. 55CPCh. 6 - Are you risk averse? You need to choose between...Ch. 6 - Flyers insurance An insurance company sells a...Ch. 6 - Normal probabilities For a normal distribution,...Ch. 6 - Prob. 59CPCh. 6 - Prob. 60CPCh. 6 - Quartiles If z is the positive number such that...Ch. 6 - Boys and girls birth weight Exercise 6.28...Ch. 6 - Cholesterol The American Heart Association reports...Ch. 6 - Female heights Female heights in North America...Ch. 6 - Cloning butterflies The wingspans of recently...Ch. 6 - Gestation times For 5459 pregnant women using...Ch. 6 - Used car prices Data from the Web site carmax.com...Ch. 6 - Used car deals Refer to the previous exercise....Ch. 6 - Global warming Suppose that weekly use of gasoline...Ch. 6 - Fast-food profits Macs fast-food restaurant finds...Ch. 6 - Metric height A Dutch researcher reads that male...Ch. 6 - Manufacturing tennis balls According to the rules...Ch. 6 - Brides choice of surname According to a study done...Ch. 6 - Prob. 74CPCh. 6 - Prob. 75CPCh. 6 - Prob. 76CPCh. 6 - Weather A weather forecaster states, The chance of...Ch. 6 - Dating success Based on past experience, Julio...Ch. 6 - Canadian lottery In one Canadian lottery option,...Ch. 6 - Likes on Facebook A large retail chain sends out...Ch. 6 - Likes with online credit The retail chain from the...Ch. 6 - Which distribution for sales? A salesperson uses...Ch. 6 - Best of five Example 2 gave the probability...Ch. 6 - Prob. 84CPCh. 6 - Prob. 85CPCh. 6 - Longest streak made In basketball, when the...Ch. 6 - Airline overbooking For the Boston to Chicago...Ch. 6 - Prob. 89CPCh. 6 - Prob. 90CPCh. 6 - Prob. 91CPCh. 6 - Prob. 92CPCh. 6 - Prob. 93CPCh. 6 - Prob. 94CPCh. 6 - Prob. 95CPCh. 6 - Prob. 96CPCh. 6 - Prob. 97CPCh. 6 - Prob. 98CPCh. 6 - Prob. 99CPCh. 6 - Prob. 100CPCh. 6 - Prob. 101CP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- A technology store holds a contest to attract shoppers. works: An ace and four other cards are shuffled and placed face down on a table. The customer gets to turn over cards one at a time, looking for the ace. The person wins $100 of store credit if the ace is the first card, $50 if it is the second card, and $20, $10, or $5 if it is the third, fourth, or last card chosen. What is the average dollar amount of store credit given away in the contest? Estimate with a simulation of 10 trials. Once an hour, someone at checkout is chosen at random to play in the contest Here's how it 67819 00354 91439 91073 49258 15992 41277 75111 67496 68430 09875 08990 27656 15871 23637 00952 97818 64234 50199 05715arrow_forwardIn a state's lottery you can bet $2 by selecting three digits each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $700. How many different selections are possible?arrow_forwardIn the game of roulette, a wheel consists of 38 slots numbered 0, 00, 1, 2,..., 36. To play the game, a metal ball is spun around the wheel and is allowed to fall into one of the numbered slots. If the number of the slot the ball falls into matches the number you selected, you win $35; otherwise you lose $1. Complete parts (a) through (g) below. Click here to view the standard normal distribution table (page 1). LOADING... Click here to view the standard normal distribution table (page 2). LOADING... (a) Construct a probability distribution for the random variable X, the winnings of each spin. x P(x) 35 0.02630.0263 −1 0.97370.9737 (Type integers or decimals rounded to four decimal places as needed.) (b) Determine the mean and standard deviation of the random variable X. Round your results to the nearest penny. μ=negative 0.05−0.05 σ=5.765.76 (c) Suppose that you play the game 100 times so that n=100. Describe the sampling…arrow_forward
- Consider a state lottery that has a weekly television show. On this show, a contestant receives the opportunity to win $1 million. The Contestant pics from four hidden windows. Behind each is one of the following: $225,000, $300,000, $1 million, or a “stopper.” Before beginning, the contestant is offered $400,000 to stop. Mathematically speaking, should the contestant take the $400,000? Answer Choices No Yes Doesn’t matter I don’t know arrow_forwardThe lotto uses numbers 1-42. A winning number consist of six different numbers in any order. What are your chance of winning?arrow_forwardThe Ontario Lottery Group has recently started allowing betting on the outcomes of games of the Canadian Calvinball League. It costs $10 to purchase a ticket, and you must successfully determine the outcome of the night's games. Tonight the games are Oakville Owlbears Brampton Beholders Whitby Wyverns Vs Vs Vs Mississauga Mind Flayers Guelph Githyanki Kitchener Kuo-Toa You will win 3* – 1 dollars for correctly determining the outcome of k matches. Question 1 Assuming all teams are equally matched, what are your expected net winnings? Note that your net winnings are the difference between what you paid to play and what you won. Hence your winnings can be negative if you lose money. Question 2 Per the rules of Calvinball, the team whose name occurs first alphabetically has an advantage and is twice as likely to win their game. Assuming you bet on the more likely winner in each game, what are your expected value net winnings? Question 3 You have a friend who plays for the Whitby Wyverns.…arrow_forward
- In horse racing, a trifecta is a bet that the first three finishers in a race are selected, and they are selected in the correct order. Does a trifecta involve combinations or permutations? Explain. Choose the correct answer below. O A. Because the order of the first three finishers does not make a difference, the trifecta involves combinations. O B. Because the order of the first three finishers does make a difference, the trifecta involves permutations. O C. Because the order of the first three finishers does not make a difference, the trifecta involves permutations. O D. Because the order of the first three finishers does make a difference, the trifecta involves combinations.arrow_forwardIn horse racing, a trifecta is a bet that the first three finishers in a race are selected, and they are selected in the correct order. Does a trifecta involve combinations or permutations? Explain. Choose the correct answer below. A. Because the order of the first three finishers does not make a difference, the trifecta involves combinations. B. Because the order of the first three finishers does not make a difference, the trifecta involves permutations. C. Because the order of the first three finishers does make a difference, the trifecta involves combinations. D. Because the order of the first three finishers does make a difference, the trifecta involves permutations.arrow_forwardIn horse racing, a trifecta is a bet that the first three finishers in a race are selected, and they are selected in the correct order. Does a trifecta involve combinations or permutations? Explain. Choose the correct answer below. A. Because the order of the first three finishers does make a difference, the trifecta involves combinations. B. Because the order of the first three finishers does not make a difference, the trifecta involves combinations. C. Because the order of the first three finishers does not make a difference, the trifecta involves permutations. D. Because the order of the first three finishers does make a difference, the trifecta involves permutations.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Calculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Calculus For The Life Sciences
Calculus
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:Pearson Addison Wesley,
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License