Bonus incentives. If a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is 1 , 000 times the value of the bills drawn. (A) What is the probability of winning a $26,000 bonus? (B) What is the probability of winning the maximum bonus, $31,000 , by drawing out all bills in the box? (C) What is the probability of the game stopping at the third draw?
Bonus incentives. If a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is 1 , 000 times the value of the bills drawn. (A) What is the probability of winning a $26,000 bonus? (B) What is the probability of winning the maximum bonus, $31,000 , by drawing out all bills in the box? (C) What is the probability of the game stopping at the third draw?
Solution Summary: The author explains how the probability of winning a 26,000 bonus is 0.167.
Bonus incentives. If a salesperson has gross sales of over
$600,000
in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is
1
,
000
times the value of the bills drawn.
(A) What is the probability of winning a
$26,000
bonus?
(B) What is the probability of winning the maximum bonus,
$31,000
, by drawing out all bills in the box?
(C) What is the probability of the game stopping at the third draw?
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