Question
how do you solve number 23?
a. Find the probability of getting exacly one car that fails among aix cars tested 22 a 0399 h 0774 b. Find the probability of getting one or fewer cars that fal among six cars teated c. Which probability is relevant for determining whether one is an unusually low niumber of cars that fail among six cars tested: the result from part (a) or part (b)? d. Is one an unusually low number of cars that fail among dix cars tested? Why or why not equal to 0.85) 5-2 Beyond the Basics Value for the Texas Pick 3 Game In the Texas Pick 3 lottery, you can bet 73. 1000 I 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 $500. $499 a. How many different selections are possible e. The S1 bet on the pass line in cr b. What is the probability of winning? c. If you win, what is your net profic? d. Find the expected value. ol -1.4t is much grester thon expeded value of -50c for Texes Pidk: 3 lotlery e. If you bet $1 on the pass line in the casino dice game of craps, the expected value is -14e. Which bet is beter: a $1 bet in the Texas Pick 3 game or a $1 bet on the pass line in craps? Explain. 24. a. 10,000 24. Expected Value in Maine's Pick 4 Game In Maine's Pick 4 lottery game, you can pay $1 to select a sequence of four digits, such as 1332. If you select the same sequence of four digits that are drawn, you win and collect $5000. b. 1/10,000 e. Becouse borth bets have fe expecled value of-500, a. How many different selections are possible b. What is the probability of winning?
Explanation / Answer
a) There are 10 numbers between 0 and 9,
The possibel number of ways = 103 = 1000
b) The probability of winning = 1/1000
c) If you win, the net profit = Winning Prize - Amount spent on ticket = $500 -$1 =$499
d) Expected Value
= (Prob of Win)*profit + (Prob of loss)*Profit
= (1/1000)*499 + (999/1000)*(-1)
=499/1000 - 999/1000 = -500/1000 = -0.5
