Question 841398: A safety inspector has found that 20% of all ladders she has checked did not meet government standars. If each ladder was an independent trial, what is the probability that 7 or more ladders would not meet government standards if 12 ladders were inspected?
A State of Indiana Lotto ticket pays winners $0, $5, $15, or $5000 with probabilities of 0.98, 0.01, 0.005 and 0.005 respectively. The expected value of this ticket is ____________?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A safety inspector has found that 20% of all ladders she has checked did not meet government standars. If each ladder was an independent trial, what is the probability that 7 or more ladders would not meet government standards if 12 ladders were inspected?
Binomial Problem with n = 12 and p(not meet) = 0.20
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P(7<= x <=12) = 1 - binomcdf(12,0.55,6) = 0.5269
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A State of Indiana Lotto ticket pays winners $0, $5, $15, or $5000 with probabilities of 0.98, 0.01, 0.005 and 0.005 respectively. The expected value of this ticket is ____________?
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E(x) = 0*0.98 + 5*0.01 + 15*0.005 + 5000*0.005 = 25.125
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Cheers,
Stan H.
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