Questions for Statistics
SHOW WORK ON ALL PROBLEMS

Problem 1
The next state lottery will have the following payoffs possible with their associated probabilities.
Payoff Probability
$2.00 0.0500
$25.00 0.0100
$100.00 0.0050
$500.00 0.0010
$5,000.00 0.0005
$10,000.00 0.0001

You buy a single ticket.
a. Referring to the problem statement, the probability that you win any money is ________.
b. Referring to the problem statement, the probability that you win at least $100.00 is ________.
c. Referring to the problem statement, if you have a winning ticket, the probability that you win at least $100.00 is ________.
d. Referring to the problem statement, if the ticket you purchased cost $10.00, what is the expected value of your winning (loss)?
Problem 12
A certain type of new business succeeds 60% of the time. Suppose that 3 such businesses open (where they do not compete with each other, so it is reasonable to believe that their relative successes would be independent).
a. Referring to the problem statement, the probability that all 3 businesses succeed is ________.
b. Referring to the problem statement, the probability that all 3 businesses fail is ________.
c. Referring to the problem statement, the probability that at least 1 business succeeds is ________.
d. Referring to the problem statement, the probability that exactly 1 business succeeds is ________.
Problem 13
The following table contains the probability distribution for X = the number of retransmissions necessary to successfully transmit a 1024K data package through a double satellite media.
X 0 1 2 3
P(X) 0.35 0.35 0.25 0.05
a. Referring to the problem statement, the probability of no retransmissions is ________.
b. Referring to the problem statement, the probability of at least one retransmission is ________.
c. Referring to the problem statement, the mean or expected value for the number of retransmissions is ________.
14. The number of power outages at a…