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Statistics - College

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Dealing with binomials. P(Possible Prize) = 1/1000 n=52 P(winning)=P(x=1)=

P(x=1)=52! (1!51!)
(.(.001)1 (1-0.001)51

Is the answer 0.050949 OR 5.0949%?

  • Statistics - College -

    0.050949 and 5.0949% are equivalent

    A probability is expressed as a numerical value between 0 and 1

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