If Person Plays Slot Machine 300 Times 8 Binomial Distribution The probability of winning on a slot machine is 5%. If a person plays the machine 500 times, find the probability of winning 30 times. Use the normal approximation tothe binomial distribution. In a certain game of chance, your chances of winning are 0.2 on each play. On the contrary, the type of slot machine you have chosen plays a great role in determining the number of credits. The next thing is to select the number of spins you would like to make. In most cases, players choose to play ten spins but this does not mean you cannot opt for another number. | Liza works for a call center | Liza knows that in the long term, she has a 65% chance of making a sale when calling on customers. One morning, he makes Six calls.
a. What is her probability of making three calls?
b. What is her probability of making sales fewer than three?
Answered by Penny Nom. | | A binomial probability question | The Medassist Pharmaceutical Company receives large shipments of aspirin tablets and uses this acceptance sampling plan: Randomly select and test 24 tablets, then accept the whole batch if there is only one or none that doesn’t meet the required specifications. If a particular shipment of thousands of aspirin tablets actually has a 4% rate of defects, what is the probability that this whole shipment will be accepted?
Answered by Penny Nom. | | The binomial distribution | An on-line game called ‘Shop Quiz’ is held by an e-commerce platform, from Monday to Friday every week. It consists of 8 multiple choice questions (MCQ) and each question has four options (A, B, C, D). Only one option is the correct answer. People who are able to correctly answer all 8 questions are winners and will be awarded a number of on-line shopping credits. Let X represent the number of questions that a person can answer correctly in a ‘Shop Quiz’.
1) Explain why Binomial distribution might NOT be a suitable distribution for the random variable X.
Mr. Saul likes playing the quiz, however, he is afraid that he might not have the necessary knowledge to answer the quiz questions. (The quiz questions cover a variety of topics including science, history, entertainment, sports and geography, etc.) Therefore, he tries to win the game by simply guessing the answers to each question.
Answered by Penny Nom. | | Sample size | What sample size was needed to obtain an error range of 2% if the following statement was made? '75% of the workers support the proposed benefit package. These results are considered accurate to within + or - 2%, 18 out of 20 times. This seems like a straight forward question but I'm getting it wrong. Could you please help me out even just the set up would be appreciated so I can see if that's where I'm going wrong. Thanks
Answered by Harley Weston. | | The binomial distribution | A small mobile phone retailer has found that one of their phones has a 12% probability of being faulty and a replacement having to be provided for the customer. They have just received a trial order for 10 phones from their biggest customer who will take their business elsewhere if 20% or more items are faulty.
i) what is the probability that they will lose their biggest customer?
Answered by Penny Nom. | | A multiple choice exam | A multiple choice exam consists of 12 questions, each having 5 possible answers. To pass, you must answer at least 9 out of 12 questions correctly. What is the probability of passing if:
a. You go into the exam without knowing a thing, and have to resort to pure guessing?
b. You have studied enough so that on each question, 3 choices can be eliminated. But then you have to make a pure guess between the remaining 2 choices.
c. You have studied enough so that you know for sure the correct answer on 2 questions. For the remaining 10 questions you have to resort to pure guessing.
Answered by Harley Weston. | | A coin is tossed 30 times | coin tossed 30 times, what is the probability that the heads show up fewer than 17 times?
Answered by Harley Weston. | | Probability and Merta trains | 4. Merta claims that 74% of its trains are on time.
a. Find the probability that among the 60 trains, 38 or fewer arrived on time.
Answered by Harley Weston. | | A multiple choice exam | a student is taking a multiple choice exam in which each question has four choices. assuming that she has no knowledge of the correct answers to any of the questions, she has decided on a strategy in which she will place four balls (marked A, B, C, D) into a box. she randomly selects one ball for each question and replaced the ball in the box. the marking will determine her answer to the question. there are five multiple choice questions on the exam. what's the probability that she will ..
Answered by Stephen La Rocque and Harley Weston. | | The normal approximation to the binomial | Slot Machines The probability of winning on a slot machine is 5%. If a person plays the machine 500 times, find the probability of winning 30 times. Use the normal approximation to the binomial distribution.
Answered by Harley Weston. | | Standard deviation | I have looked over your math question and mines is not there. for a binomiial distribution with parmeter n and p, the mean is np and the standard deviation is np(1-p). I understand how to get the np but not understanding how to get the (1-p). For example np=(40)(0.48)(1-0.48)=3.160. How can I get the (1-0.48) answer please
Answered by Harley Weston. | | Find the sample size needed | Find the sample size needed to be 98% confident thata marketing survey on the proportion of shoppers who use the internet for holiday shopping is accurate within a margin of error of 0.02. Assume that the conditions for a binomial distribution are met, and that a current estimate for a sample proportion does not exist.
Answered by Penny Nom. | | A hypothesis test | I have already tried to do this problem but im having a very had time with it. Can you please help me.
Glamour Magazine sponsored a survey of 2500 prospective brides and found that 60% of them spent less than $750 on their wedding gown. Use a 0.01 significance level to test the claim that less than 62% of brides spend less than $750 on their wedding gown. How are the results affected if it is learned that the responses were obtained from magazine readers who decided to respond to the survey through an Internet Web site?
Answered by Penny Nom. | | Acceptance sampling | The Medassist Pharmaceutical Company recieves large shipments of asprin tablets and uses this acceptance sampling plan: Randomly select and test 24 tablets, then accept the whole batch if there is only one or none that doesnt meet the required specifications. If a particular shipment of thousands of asprin tablets actually has a 4% rate of defects, what is the probability that this whole shipment will be accepted?
Answered by Penny Nom. | | What is the expected number of ripe and ready to eat watermelons | An agricultural cooperative claims 95 percent of the watermelons shipped out are ripe and ready to eat. If 20 watermelons are shipped out , what is the probability that the number of watermelon that are ripe and ready to is (i) exactly 14 (ii) more than 18 (iii) of the 20 watermelons that are shipped what is the expected number of ripe and ready to eat watermelons
Answered by Penny Nom. | | Sally plays roulette | Sally plans to bet 100 bets of $1.00 each on red roulette. the probability of the ball landing on red is 18/38 what is the probability that Sally will win at least half the time
Answered by Penny Nom. | | The coefficient of variation | What is the correct formula for coefficient of variation for a binomial distribution?
Answered by Penny Nom. | | A manufacturer of cotton pins | A manufacturer of cotton pins knows that 5% of his products are defective. If he sells cotton pins in boxes of 100 and guarantees that not more than 10 pins will be defective, what is the approximate probability that a box will have the guaranteed quantity?
Answered by Penny Nom. | | A binomial distribution exercise | In a survey of 15 manufacturing firms, the number of firms that use LIFO (a last-in first-out accounting procedure for inventory) is a binomial random variable x with n=15 and p=0.2. a) What is the probability that five or fewer firms will be found to use LIFO? Is it unlikely that more than 10 firms will be found to use LIFO? Comment.
Answered by Penny Nom. | | A confidence interval | I am attempting to calculate how my confidence interval will widen at the 95% confidence level if my response universe increases from 100 to 150 or to 200. https://golpatrol.netlify.app/which-slot-machine-has-the-best-odds-in-fire-red.html. There is a universe of 54,000. I take a 5% sample for a test universe of 2,700 If my 'yes' universe is 100, at the 95% confidence level, what is my +/- range? (i.e +/- 3? +/-5?) Historically, 6.6% of the 2,700 you say 'yes'. I am trying to determine how the confidence interval would change if the number of 'yes' responders increased to 150 or to 200.
Answered by Penny Nom. | | A sample size estimation | I have to do a research about the behavior of library users. We are going to apply a survey to a population of 1280 students (Management an Economics students) but of course we have to do it to a sample..I need to know the size of my sample.
Answered by Penny Nom. | | Replacement times for TV sets? | Replacement times for TV sets are normally distributed with a mean of 8.2 years and a standard deviation of 1.1 years. Estimate the probability that for 250 randomly selected TV sets, at least 15 of them have replacement times greater than 10.0 years.e
Answered by Andrei Volodin and Penny Nom. | | Binomial distribution | my daughter is having difficulty with the following formula P(X=x) = ( n over x) px (1-p) n-x
The teacher has given them the formula but not taught them how to apply it or understand it.
Answered by Penny Nom. | | Cinderella clothes | If cinderella clothes, inc. has determined that 0.5% of all incoming phone calls involve complaints, what is the probability that in 200 incoming calls there are more than one complaint?
Answered by Andrei Volodin. | | Banana yogurt | A grocery store has 100 cartons of banana yogurt in stock.Each carton contains 12 cup of banana yogurts.The probability that a cup has fewer than 20 banana chunks in it is 10 %. So,What is the probability that between 15 and 25 (inclusive) cartons out of the 100 cartons have exactly 3 cups with fewer than 20 banana chunks?
Answered by Harley Weston. | | Independent tests | If the false-positive rate of each test in a battery of tests is 0.05, how many independent tests can be included in the battery if we want the probability of obtaining at least one false-positive result to be at most 0.2?
Answered by Harley Weston. | | What is the variance of the difference of two binomials? | My co-workers and I have come up with different estimates of the z-statistic, and are in particular disagreement over the calculation of Variance for this problem. I am trying to find out, with a five percent level of significance, whether the new form yields a higher rate of return than the old form. Any thoughts, comments, or solutions?
Answered by Harley Weston. |
Remember the movie National Lampoon’s Vegas Vacation, when gambling fever consumes Chevy Chase’s character, Clark W. Griswold? He goes on a losing streak to beat all losing streaks while his son, Rusty, wins four cars by playing the slot machines. Maybe Clark would have done better if he had read Probability For Dummies! In this article, you discover the basic ideas behind slot machines and how they work, so that you can get past the myths and develop a strategy based on sound probability. Understanding average payoutWhen casinos advertise that their slot machines pay out an average of 90 percent, the fine print they don’t want you to read says that you lose 10 cents from each dollar you put into the machines in the long term. (In probability terms, this advertisement means that your expected winnings are minus 10 cents on every dollar you spend every time the money goes through the machines.) Suppose you start with $100 and bet a dollar at a time, for example. After inserting all $100 into the slot, 100 pulls later you’ll end up on average with $90, because you lose 10 percent of your money. If you run the $90 back through the machine, you’ll end up with 90 percent of it back, which is 0.90 x 90 = $81. If you run that amount through in 81 pulls, you’ll have $72.90 afterward (0.90 x 81 = 72.90). If you keep going for 44 rounds, on average, the money will be gone, unless you have the luck of Rusty Griswold! How many pulls on the machine does your $100 give you at this rate? Each time you have less money to run through the machine, so you have fewer pulls left. If you insert $1 at a time, you can expect 972 total pulls in the long term with these average payouts (that’s the total pulls in 44 rounds). But keep in mind that casinos are designing slot machines to go faster and faster between spins. Some are even doing away with the handles and tokens by using digital readouts on gaming cards that you put into the machines. The faster machines can play up to 25 spins per hour, and 972 spins divided by 25 spins per minute is 38.88 minutes. You don’t have a very long time to enjoy your $100 before it’s gone! The worst part? Casinos often advertise that their “average payouts” are even as high as 95 percent. But beware: That number applies only to certain machines, and the casinos don’t rush to tell you which ones. You really need to read or ask about the fine print before playing. You can also try to check the information on the machine to see if it lists its payouts. (Don’t expect this information to be front and center.) Implementing a simple strategy for slotsAdvice varies regarding whether you should play nickel, quarter, or dollar slot machines and whether you should max out the number of coins you bet or not (you usually get to choose between one and five coins to bet on a standard slot machine). In this section, you’ll find a few tips for getting the most bang for your buck (or nickel) when playing slot machines. Basically, when it comes to slot machines, strategy boils down to this: Know the rules, your probability of winning, and the expected payouts; dispel any myths; and quit while you’re ahead. If you win $100, cash out $50 and play with the rest, for example. After you lose a certain amount (determined by you in advance), don’t hesitate to quit. Go to the all-you-can-eat buffet and try your luck with the casino food; odds are it’s pretty good! Usa online casinos reviews. The online casino reviews USA listed below provides essential information at a glance to assist our visitors by providing a general overview of the most important facts. For those players seeking more details and information on the respective US online casino reviews, we suggest clicking the link associated with the various brands for full. Read Online Casino Reviews to Find the Perfect Site for You. We want our readers to have the most up-to-date information on US online casinos. We create useful reviews that you can trust. Our evaluation process is thorough, and our online casino reviews are in-depth and comprehensive. They will provide you all the information you need to make. Choosing among nickel, quarter, and dollar machinesThe machines that have the higher denominations usually give the best payouts. So, between the nickel and quarter slots, for example, the quarter slots generally give better payouts. However, you run the risk of getting in way over your head in a hurry, so don’t bet more than you can afford to lose. The bottom line: Always choose a level that you have fun playing at and that allows you to play for your full set time limit. /expected-5733972a5f9b58723d773687.png "Machine") Deciding how many coins to play at a timeWhen deciding on the number of coins you should play per spin, keep in mind that more is sometimes better. If the slot machine gives you more than two times the payout when you put in two times the number of coins, for example, you should max it out instead of playing single coins because you increase your chances of winning a bigger pot, and the expected value is higher. If the machine just gives you k times the payout for k coins, it doesn’t matter if you use the maximum number of coins. You may as well play one at a time until you can make some money and leave so your money lasts a little longer. For example, say a quarter machine pays 10 credits for the outcome 777 when you play only a single quarter, but if you play two quarters, it gives you 25 credits for the same outcome. And if you play the maximum number of quarters (say, four), a 777 results in 1,000 credits. You can see that playing four quarters at a time gives you a better chance of winning a bigger pot in the long run (if you win, that is) compared to playing a single quarter at a time for four consecutive tries. WildWild symbols expand to cover the entire reel, increasing yourwinning chances. Sinbad golden voyage free slot. ScatterScatters appear on reels 2, 4 and 6 only. The latest slot machine sweeping the nation is the so-called “penny slot machine.” Although it professes to require only a penny for a spin, you get this rate only if you want to bet one penny at a time. The machines entice you to bet way more than one penny at a time; in fact, on some machines, you can bet more than 1,000 coins (called lines) on each spin — $10 a shot here, folks. Because these machines take any denomination of paper bill, as well as credit cards, your money can go faster on penny machines than on dollar machines because you can quickly lose track of your spendings. Pinching pennies may not be worth it after all! An exceptional choice is novibet.co.uk (non-USA), a platform that offers both, sports and casino betting. Seeing as football is the most popular sport in the US, and enticing to bet on. It’s intriguing to see how gambling on it compares to doing the same at an online casino. Odds vs House Edge. Although both forms of betting are quite similar, there is a significant difference in the way you place bets and calculate your wins in sports betting versus casino games. If you play online casino games, you would have heard the term “house edge”. This is the mathematical advantage casinos have over wagering players. For players, they have a limited number of betting options and markets as well as slower up-to-date odds information when compared to online casinos. Online Casinos, on the other hand, have a huge degree of flexibility in how they operate their business. To add to this, they have access to a large number of customers thanks to the internet, and they offer many more types of betting with a larger and more. Betting at casino vs online. |