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Suppose you routinely check coin-return slots in vending machines to see if they have any money in them. You have found that about \(10 \%\) of the time you find money. a. What is the probability that you do not find money the next time you check? b. What is the probability that the next time you will find money is on the third try? c. What is the probability that you will have found money by the third try?

Short Answer

Expert verified
a. 0.90. b. 0.081. c. 0.271.

Step by step solution

01

Probability of Not Finding Money (Part a)

The probability of not finding money in a vending machine is the complement of the probability of finding money. Since you find money 10% of the time, the probability of not finding money is:\[P(\text{not finding money}) = 1 - P(\text{finding money}) = 1 - 0.10 = 0.90\]
02

Probability of Finding Money on Third Try (Part b)

To find money for the first time on the third try, you must not find money on the first two tries and then find money on the third try. The probability can be calculated as follows:\[P(\text{money on third try}) = P(\text{not finding on 1st}) \times P(\text{not finding on 2nd}) \times P(\text{finding on 3rd})\]Using the probabilities:\[P(\text{money on third try}) = 0.90 \times 0.90 \times 0.10 = 0.081\]
03

Probability of Finding Money by Third Try (Part c)

The probability of finding money by the third try is the sum of finding money on the first, second, or third try. This can be expressed using complements:\[P(\text{by third try}) = 1 - P(\text{not finding money in first three tries})\]Thus, compute the probability of not finding money in all first three tries:\[P(\text{not finding in first three}) = 0.90 \times 0.90 \times 0.90 = 0.729\]The probability of finding money by the third try is:\[P(\text{by third try}) = 1 - 0.729 = 0.271\]

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Complement Rule
The complement rule is a fundamental principle in probability theory. It is based on the idea that the probabilities of all possible outcomes in a particular event must add up to 1. Instead of directly calculating the probability of an event happening, you can often find it more accessible to determine the probability of the event not happening, and then subtract it from 1. This approach is particularly handy when the outcome of interest has many possibilities, and finding the probability of it directly could be cumbersome.
Consider, for example, the original exercise where the probability of finding money in the coin-return slots was given as 0.10, or 10%. The complement rule allows us to find the probability of its complement, which is not finding money. By applying the complement rule, we calculate:
  • Probability of not finding money = 1 - Probability of finding money = 1 - 0.10
  • This calculation results in a probability of 0.90, or 90%
This illustrates how the complement rule simplifies solving probability exercises.
Geometric Distribution
The geometric distribution is a discrete probability distribution, useful for modeling the number of trials needed to get the first success in repeated independent Bernoulli trials. Each trial can result in success or failure with the same probability each time.
In the context of the original exercise, the first success is finding money, and each check is a trial with a 10% success rate of finding it. The probability of finding money for the first time exactly on the third try involves not finding it on the first two tries and then finding it on the third.
  • Probability that the first finding occurs on the third trial = Probability of not finding on first and second trial × Probability of finding on third trial
  • With a given probability = 0.90 × 0.90 × 0.10
  • Calculating this results in a probability of 0.081, or 8.1%
This scenario perfectly fits the geometric distribution model, making it straightforward to calculate such probabilities.
Probability Calculation
Probability calculation is essential to determine how likely it is that a certain event will occur. It involves identifying the possible outcomes and determining their likelihoods based on known probabilities.
In our exercise, calculating the chance of finding money by the third try involves adding up the probabilities of various outcomes, i.e., finding money on the first, second, or third attempt.
Instead of laboriously calculating each scenario individually, you can also use the complement rule here to simplify. You calculate the chance of the event not happening at all in three attempts and subtract it from 1.
  • Probability of not finding money in all three tries = 0.90 × 0.90 × 0.90
  • This yields 0.729, or 72.9%
  • Therefore, the probability of finding money at least once in three tries is 1 - 0.729 = 0.271, or 27.1%
Probability calculation allows for precise determination of such compound probabilities, making it a critical tool in analyzing random events.

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