A box contains 500 envelopes, of which 50 contain $100 incash, 100 contain $25 i

Question

A box contains 500 envelopes, of which 50 contain $100 incash, 100 contain $25 in cash, and 350 contain $10 in cash. Anenvelope may be purchased for $25. a) What is the sample space S for the different amounts ofmoney? b) Assign weights to the sample points and then find theprobability that the first envelope purchased contains less than$100. A box contains 500 envelopes, of which 50 contain $100 incash, 100 contain $25 in cash, and 350 contain $10 in cash. Anenvelope may be purchased for $25. a) What is the sample space S for the different amounts ofmoney? b) Assign weights to the sample points and then find theprobability that the first envelope purchased contains less than$100.

Explanation / Answer

a) Sample space = (10,25,100) b) Weights: P(X=10) = 350/500 P(X=25) = 100/500 P(X=100) = 50/500 Thus, P(X is less than 100) = 350/500 + 100/500 = 450/500 =0.90

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