Suppose You Know That for Each Ticket the Probability of Winning

question 12

Multiple Choice

Suppose you know that for each ticket the probability of winning a certain "instant win" lottery game is 1/100.You have purchased 99 tickets so far, with no luck.What is your chance that the next ticket you buy is a winner?

• A)99/100
• B)1/100
• C)100%
• D)None of the above.

---

Definitions:

Annual Rate

A yearly interest rate that accounts for compounding over a 12-month period.

Term Bonds

Term bonds are bonds that mature on a single date, with the principal amount being repaid at the end of the bond term.

Specified Future Date

A particular date identified in the future on which certain events are anticipated or specific actions are expected to occur, often used in contracts or agreements.

Paid-In Capital Accounts

Funds raised by a company through the sale of equity or stock, representing the capital contributed by investors in exchange for shares.