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An instant lottery ticket has three possible prize amounts. The probability of winning a $100 prize is 0.05, the probability of winning a $5 prize
An instant lottery ticket has three possible prize amounts. The probability of winning a $100 prize is 0.05, the probability of winning a $5 prize is 0.04, and the probability of winning a $1 prize is 0.1. With the purchase of one of these lottery tickets, what is the probability of the event that you lose (I.e. do not win a prize) ? What is the probability of the event that you win at least $5 ? What is the probability of the event that you win more than $ 100
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