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In Exercises 5鈥36, express all probabilities as fractions.

Identity Theft with Credit Cards Credit card numbers typically have 16 digits, but not all of them are random.

a. What is the probability of randomly generating 16 digits and getting your MasterCard number?

b. Receipts often show the last four digits of a credit card number. If only those last four digits are known, what is the probability of randomly generating the other digits of your MasterCard number?

c. Discover cards begin with the digits 6011. If you know that the first four digits are 6011 and you also know the last four digits of a Discover card, what is the probability of randomly generating the other digits and getting all of them correct? Is this something to worry about?

Short Answer

Expert verified

a. The probability of getting the correct MasterCard number is11016.

b. The probability of getting the correct MasterCard number if the last four digits are known is11012.

c. The probability of getting the correct MasterCard number if the first and the last four digits are known is 1108.

No, there is nothing to worry about the credit card number being randomly guessed as the probability is extremely low.

Step by step solution

01

Given information

A credit card number consists of 16 digits.

02

State the counting rule

When an event occurs in multiple steps, thenumber of unique ways in which it can occur is the product of the number of ways in which each step of the event occurs.

03

Compute the probability to obtain a specific MasterCard number

a.

The total number of digits from 0 to 9 is 10.

The number of possible ways to write a 16-digit number is

101010......1016times=1016

The number of ways of writing the correct MasterCard number is 1.

The probability of getting the correct MasterCard number is

Pcorrectnumber=11016

Therefore, the probability of getting the correct MasterCard number is 11016.

04

Compute the probability when only the last four digits are known

b.

The last four digits of the number are known, and the rest 12 digits are to be selected.

The number of ways 12 digits of card number can be selected is one.

The number of ways in which any one of the remaining 12 digits can be chosen is 10.

The total number of ways for forming the remaining 12 digits of MasterCard is

1010.......10111116terms=10121=1012

The probability of getting the correct MasterCard number if the last four digits are known is

Pcorrectnumber=11012

Therefore, the probability of getting the correct MasterCard number when the last four digits are known is 11012.

05

Compute the probability when the first and last four digits are known

c.

The first and the last four digits of the number are known.

So, the number of ways in which a unique card number can be selected is 1.

The number of ways in which any one of the remaining eight digits can be chosen is 10.

The total number of ways is

11111010.......10111116terms=11081=108

The probability of getting the correct MasterCard number if the first and the last four digits are known is

Pcorrectnumber=1108

Therefore, the probability of getting the correct MasterCard number when the first and the last four digits are known is 1108.

06

Compute the probability when only the last four digits are known

The probability of guessing the card number even when a certain set of digits is known is close to zero.

As the probabilities are extremely low (approximately equal to 0), it is almost impossible that the number of the MasterCard is randomly guessed by any stranger.

Thus, there is nothing to worry about.

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