In a straight 3 lottery you choose a 3 digit number. A 3 digit number is chosen at random, If your number mataches you win $250.
1. There are two outcimes in the sample space($250,$0) using these write down a probability model for the straigjt pick three lottery.
SOMEONE PLEASE HELP
I'd say that you have a 1/10^3 chance of correctly getting the number right, since there are three numbers and 10 numbers to choose from each time. 1/10 x 1/10 x 1/10, right?
To create a probability model for the straight pick three lottery, we need to consider the possible outcomes and their associated probabilities. In this case, there are two outcomes - winning $250 or winning $0.
Let's assign the probabilities to each outcome:
1. Winning $250: We need to find the probability of choosing a 3-digit number that matches the randomly chosen number. Since there are 1000 possible 3-digit numbers (from 000 to 999), and only one winning number, the probability of winning $250 is 1/1000 or 0.001.
2. Winning $0: The probability of not matching the 3-digit number is equal to the complement of the probability of winning. So, the probability of winning $0 is 1 - 0.001 = 0.999.
Based on these calculations, we can create the probability model for the straight pick three lottery:
Outcome: $250 $0
Probability: 0.001 0.999
Please note that the sum of probabilities should always equal 1 in a probability model.