Chapter 10.2, Problem 11E

To determine

To calculate:

The probability value of the spinning wheel and bankrupt in the next one draw

Answer to Problem 11E

The probability value of the spinning wheel and bankrupt in the next one draw is $0.028$

Explanation of Solution

Given information:

  

  $\begin{array}{l}P\left(A\right)=\frac{8}{24}\\ P\left(B\right)=\frac{2}{24}\end{array}$

Calculation:

In the Radom experiment of the spinning wheel is turned, the first draw is winning $\$500$ and then that wining person will go bank interrupt in the next immediate draw.

Now, the probability of the independent event is calculated as:

  $\begin{array}{l}P\left(A\cap B\right)=P\left(A\right)\times P\left(B\right)\\ P\left(A\cap B\right)=\frac{8}{24}\times \frac{2}{24}\\ P\left(A\cap B\right)=0.0277\\ P\left(A\cap B\right)\approx 0.028\end{array}$