George Buys Six Lottery Tickets for $2 Each

question 89

Short Answer

George buys six lottery tickets for $2 each. In addition to the grand prize, there is a 20% chance that each lottery ticket gives a prize of $4. Assume that these tickets are not grand prize winners.
A) What is the probability that the tickets are winners more than the average that George expected?
B) What is the probability that none of the tickets are winners?
C) What is the probability that at least one of the tickets is a winner?

• A) What is the probability that the tickets are winners more than the average that George expected?
• B) What is the probability that none of the tickets are winners?
• C) What is the probability that at least one of the tickets is a winner?

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Definitions:

Replication

refers to the process of conducting a study or experiment again with the aim of verifying the results obtained in a previous research.

Statistical Significance

Statistical significance is a measure indicating the likelihood that a result from data analysis is not due to chance, usually determined through a specific threshold value or p-value.

Chance Fluctuation

Random variations in data or processes that are not attributable to any specific cause, often observed in statistical analyses.

Correlation Coefficients

Statistical measures that indicate the strength and direction of a linear relationship between two or more variables.