What is the binomial experiment Discuss how it applies to a

What is the binomial experiment? Discuss how it applies to a real life situation.

A radio station runs a promotion at an auto show with a money box with 10 $100 tickets, 12 $50 tickets, and 20 $25 tickets. The box contains an additional 200 \"dummy\" tickets with no value. Three tickets are randomly drawn. Find the given probabilities

One ticket of each money amount.

Solution

A binomial distribution can be thought of as simply the probability of a SUCCESS or FAILURE outcome in an experiment or survey that is repeated multiple times.

For example, let’s suppose you wanted to know the probability of getting a 1 on a die roll. if you were to roll a die 20 times, the probability of rolling a one on any throw is 1/6. Roll twenty times and you have a binomial distribution of (n=20, p=1/6). SUCCESS would be “roll a one” and FAILURE would be “roll anything else.”

prob of getting one ticket of each money amount = 10C1 * 12C1 * 20C1 / (242C3) = 1.02877 *10^-3