George Buys Six Lottery Tickets for $2 Each

question 39

Essay

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 pay out more than George spent on them?
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:

Personality

Encompasses the characteristic patterns of thoughts, feelings, and behaviors that make a person unique.

Emotional Stability

A personality trait that denotes the ability to remain calm and composed under stress, and to recover quickly from upsetting events.

Individual Differences

The variations among people in their qualities, abilities, and characteristics.

Big Five

A psychological model outlining five broad dimensions of human personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.