Mathematics, 13.11.2020 07:00 alainacorkell5364
In each month, the proportion of ‘Prize’ bonds that win a prize is 1 in 11,000. There is a large number of prizes and all bonds are equally likely to win each prize.
(a) Show that, for a given month, the probability that a bondholder with
5000 bonds wins at least one prize, is 0.365, correct to 3 significant figures.
(b) For a given month, find the probability that, in a group of 10 bondholders
each holding 5000 bonds, four or more win at least one prize
Answers: 2
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In each month, the proportion of ‘Prize’ bonds that win a prize is 1 in 11,000. There is a large num...
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