Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your client is going to be travelling to Las Vegas in the near future and he wants to place some bets on his favorite professional

Your client is going to be travelling to Las Vegas in the near future and he wants to place some bets on his favorite professional baseball team.To ensure he knows the odds on his bets he wants to know the probability of certain scenarios occurring.

1. Knowing that the team has won an average of 95 games over the past three seasons and that there are 162 games in a season, estimate the probability of the team winning any single game in the upcoming season.

2. Using the information from number 1, determine the probability that the team will win exactly 100 games in the upcoming season.

3. Using the information from number 1, determine the probability of the team winning at least 100 games in the upcoming season.

4. Using the information from number 1, determine the probability of the team winning less than 100 games.

5. Working in parallel with you, a coworker found the probability of the team winning less than 100 games to be 80.96%. Do these results match yours? If not, identify the error that was made.

6. What assumptions must be made in this scenario that allow us to use a binomial distribution?What are some possible reasons why a binomial distribution may not accurately represent the scenario?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Algebra Concepts & Applications

Authors: Marvin L Bittinger, David J Ellenbogen, Barbara L Johnson

9th Edition

0321877926, 9780321877925

More Books

Students also viewed these Mathematics questions