Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 6 - Section 6.1 - Assess Your Understanding - Applying the Concepts - Page 332: 33c

Answer

It does not affect the chance of winning a single ticket because the probabilities remain the same, but it does affect the expected cash prize of the ticket. That is, if you buy a very large number of tickets, let's say, 1 billion tickets, the size of the grand prize will be affected and the expected profit.

Work Step by Step

In order to affect the chances of winning a single ticket, we must change the probabilities.
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