Topic Hypergeometric Probability DistributionShow development for the solutionSuppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets.a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial distribution is used the result is 0.3174 (31.74%); but if the hypergeometric distribution is used, 0.3167 (31.67%) is obtained. Comment on these results.b) What is the expected number of tickets that must be purchased to obtain one that pays at least its value? What is the value of the standard deviation? Topic Hypergeometric Probability DistributionShow development for the solutionSuppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose youbuy 5 tickets.a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomialdistribution is used the result is 0.3174 (31.74%); but if the hypergeometric distribution is used, 0.3167(31.67%) is obtained. Comment on these results.b) What is the expected number of tickets that must be purchased to obtain one that pays at least itsvalue? What is the value of the standard deviation?

* SOLUTION :- From the given information the calculation is given as below

Topic Hypergeometric Probability Distribution Show development for the solution Suppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial

Topic Hypergeometric Probability Distribution Show development for the solution Suppose 500 lottery tickets are sold and among them 200 pay at least the cost of the ticket. Suppose you buy 5 tickets. a) Find the probability that you win at least the cost of 3 tickets. Hint: prove that if the binomial

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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