This question's due date has already passed. You may post a tutorial, but there's no guarantee that the original asker will purchase the tutorial. But other people might!

Question

# \$5.00For Prateek64

• From Mathematics: Statistics
• Closed, but you can still post tutorials
• Due on Jul. 13, 2012
• Asked on Jul 03, 2012 at 7:39:50PM

Rating :No Rating
Tutorials Posted: 0

Q:

Explain what is wrong and why it is wrong:

1. You bought 10 lottery tickets. One of them won a prize. That means that the probability of winning a prize is 1/10.

2. In a lottery, buying more tickets does not affect your chances of winning a prize.

3. John has 3 suits, 10 shirts, and 12 neckties.  He will need to buy some more clothes if he wants to come to work each work day in a different outfit for a whole year.

4. If in a probability distribution you get the sum of probabilities less than one, it just means that you have a smaller-than-normal distribution

5. From the perspective of the insurance company, health insurance policies are set up in such a way that a healthy person has a negative expected value, and a sickly person has a positive one.