In the Virginia Instant Lottery, There Are 10 Different $5

question 39

Multiple Choice

In the Virginia instant lottery, there are 10 different $5 Scratcher games. Your favorite, "Hit the Jackpot," is advertised to have a 1-in-4.37 chance of winning, and a 1-in-664,457 chance of hitting the top prize of $200,000. All of the seven top prizes are still available. If you buy five of these tickets and outcomes are independent, the probability that you lose all five times is:

• A)0.229.
• B)0.273.
• C)0.459.
• D)0.771.

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Definitions:

Statistic

A numerical value that describes a sample characteristic, obtained from data analysis.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.

Net Fixed Assets

The value of a company's property, plant, and equipment (PP&E) minus any accumulated depreciation, representing the actual value of the company's fixed assets.

Sales

The process of offering goods or services to obtain money or other forms of payment.