Question

Suppose you have a bag with the following in it: 5 one dollar bills, 4 fives, 3 tens, 5 twenties, and 3 fifties. Assuming the experiment requires drawing one bill from the bag at random, complete the probability distribution for this experiment.

Required:
What is the probability of drawing 9 dollars or less in a single draw?

Answer 1

(a) Probility Distribution

Outcome probability

$1 5/15 = 1/3

$5 4/15

$10 3/15 = 1/5

$20 5/15 = 1/3

(b) P($9 or less) = 3/5

Explanation:

(a) Probility Distribution

Outcome probability

$1 5/15 = 1/3

$5 4/15

$10 3/15 = 1/5

$20 5/15 = 1/3

Any other denomination

0

(b)

ways to draw $9 or less in a single draw

P($1) = 1/3

P($5) = 4/15

P($9 or less) = P($1) + P($5) = 1/3 + 4/15 = 9/15 = 3/5