×
Log in to StudySoup
Get Full Access to Elementary Statistics - 12 Edition - Chapter 5.4 - Problem 20bsc
Join StudySoup for FREE
Get Full Access to Elementary Statistics - 12 Edition - Chapter 5.4 - Problem 20bsc

Already have an account? Login here
×
Reset your password

Powerball Lottery As of this writing, the Powerball

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 20BSC Chapter 5.4

Elementary Statistics | 12th Edition

  • Textbook Solutions
  • 2901 Step-by-step solutions solved by professors and subject experts
  • Get 24/7 help from StudySoup virtual teaching assistants
Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

4 5 1 350 Reviews
20
2
Problem 20BSC

Problem 20BSC

Powerball Lottery As of this writing, the Powerball lottery is run in 42 states. If you buy one ticket, the probability of winning is 1/195,249,054. If you buy one ticket each week for 50 years, you play this lottery 2600 times.

a. Find the mean and standard deviation for the number of wins for people who buy a ticket each week for 50 years. Express the results using six decimal places.

b. Would it be unusual for someone to win this lottery at least once if they buy a ticket each week for 50 years?

Step-by-Step Solution:

Answer :

Step 1 :

Given, the Powerball lottery is run in 42 states. If you buy one ticket, the probability of winning is 1/195,249,054. If you buy one ticket each week for 50 years, you play this lottery 2600 times

  1. n = 2600 and p = 1/195,249,054

          The procedure yields a binomial distribution.

Where, mean = = np = 2600(1/195,249,054)

                        = 0.000013

Variance = npq

               = (2600)(1/195249054)(195249053/195249054

               = 0.00001

Standard deviation =  =

                                = 0.003649

b) We have to find the minimum usual value and maximum usual value

i.e , Minimum usual value

          = - 2

           = 0.000013 - 2(0.003649)

           = -0.007285

Maximum usual value

          = + 2

         = 0.000013 + 2(0.003649)

           = 0.007311

It is unusual to buy a ticket each week for 50 years and win at least once.

Because one win is outside the range of usual values.

Step 2 of 1

Chapter 5.4, Problem 20BSC is Solved
Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

Elementary Statistics was written by and is associated to the ISBN: 9780321836960. The answer to “Powerball Lottery As of this writing, the Powerball lottery is run in 42 states. If you buy one ticket, the probability of winning is 1/195,249,054. If you buy one ticket each week for 50 years, you play this lottery 2600 times.a. Find the mean and standard deviation for the number of wins for people who buy a ticket each week for 50 years. Express the results using six decimal places.________________b. Would it be unusual for someone to win this lottery at least once if they buy a ticket each week for 50 years?” is broken down into a number of easy to follow steps, and 93 words. The full step-by-step solution to problem: 20BSC from chapter: 5.4 was answered by , our top Statistics solution expert on 03/15/17, 10:30PM. Since the solution to 20BSC from 5.4 chapter was answered, more than 526 students have viewed the full step-by-step answer. This textbook survival guide was created for the textbook: Elementary Statistics, edition: 12. This full solution covers the following key subjects: lottery, Buy, ticket, week, years. This expansive textbook survival guide covers 121 chapters, and 3629 solutions.

Other solutions

People also purchased

Related chapters

Unlock Textbook Solution

Enter your email below to unlock your verified solution to:

Powerball Lottery As of this writing, the Powerball