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With probability 0.001, a prize of $499 is won in the

Probability and Statistical Inference | 9th Edition | ISBN: 9780321923271 | Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman ISBN: 9780321923271 41

Solution for problem 7E Chapter 2.6

Probability and Statistical Inference | 9th Edition

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Probability and Statistical Inference | 9th Edition | ISBN: 9780321923271 | Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman

Probability and Statistical Inference | 9th Edition

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Problem 7E

With probability 0.001, a prize of $499 is won in the Michigan Daily Lottery when a $1 straight bet is placed. Let Y equal the number of $499 prizes won by a gambler after placing n straight bets. Note that Y is b(n, 0.001). After placing n = 2000 $1 bets, the gambler is behind or even if {Y ≤ 4}. Use the Poisson distribution to approximate P(Y ≤ 4) when n = 2000.

Step-by-Step Solution:

Step 1 of 2:

A prize of $499 is won in the Michigan Daily Lottery with probability 0.001 when a $1 straight bet is placed. Let Y is the number of  $499 prizes won by a gambler after placing n straight bets.

Y~B(n, .001). We have to find the probability that P(Y4) after placing n= 2000 $1 bets.

Step 2 of 2

Chapter 2.6, Problem 7E is Solved
Textbook: Probability and Statistical Inference
Edition: 9
Author: Robert V. Hogg, Elliot Tanis, Dale Zimmerman
ISBN: 9780321923271

The answer to “With probability 0.001, a prize of $499 is won in the Michigan Daily Lottery when a $1 straight bet is placed. Let Y equal the number of $499 prizes won by a gambler after placing n straight bets. Note that Y is b(n, 0.001). After placing n = 2000 $1 bets, the gambler is behind or even if {Y ? 4}. Use the Poisson distribution to approximate P(Y ? 4) when n = 2000.” is broken down into a number of easy to follow steps, and 74 words. Since the solution to 7E from 2.6 chapter was answered, more than 646 students have viewed the full step-by-step answer. This textbook survival guide was created for the textbook: Probability and Statistical Inference , edition: 9. The full step-by-step solution to problem: 7E from chapter: 2.6 was answered by , our top Statistics solution expert on 07/05/17, 04:50AM. This full solution covers the following key subjects: won, straight, placing, bets, gambler. This expansive textbook survival guide covers 59 chapters, and 1476 solutions. Probability and Statistical Inference was written by and is associated to the ISBN: 9780321923271.

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