Question 73130
Not binomial if the payoff is a fixed figure that does not depend on the number of participlants. That being the case the probability of winning changes every time he playssince more or fewer people participate each day.
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If the payoff is adjusted relative to the number of participants the experiment
could possibly be binomial, but that is highly unlikely.
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For an experiment to be binomial, the probability of success on each trial
must remain the same.
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Cheers,
Stan H.