What is the probability that your mother will win

Reference no: EM131009424

1. Give one example each of an analytic, a frequentist, and a subjective view of probability.

2. Suppose that neighborhood soccer players are selling raffle tickets for $500 worth of groceries at a local store, and you bought a $1 ticket for yourself and one for your mother. The children eventually sold 1,000 tickets.

(a) What is the probability that you will win?

(b) What is the probability that your mother will win?

3. Now suppose that because of the high level of ticket sales, an additional $250 prize will also be awarded.

(a) Given that you don‘t win first prize, what is the probability that you will win second prize? (The first-prize ticket is not put back into the hopper before the second-prize ticket is drawn.)

(b) What is the probability that your mother will come in first and you will come in second?

(d) What is the probability that the two of you will take first and second place?

Reference no: EM131009424

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