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(Created page with "A bank accepts rolls of pennies and gives 50 cents credit to a customer without counting the contents. Assume that a roll contains 49 pennies 30 percent of the time, 50 pennies 60 percent of the time, and 51 pennies 10 percent of the time. How many rolls does the bank need to collect to have a 99 percent chance of a net loss? '''References''' {{cite web |url=https://math.dartmouth.edu/~prob/prob/prob.pdf |title=Grinstead and Snell’s Introduction to Probability |last...") |
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A bank accepts rolls of pennies and gives 50 cents credit to a customer without counting the contents. Assume that a roll contains 49 pennies | A bank accepts rolls of pennies and gives 50 cents credit to a customer without counting the contents. Assume that a roll contains 49 pennies | ||
30 percent of the time, 50 pennies 60 percent of the time, and 51 pennies 10 percent of the time. How many rolls does the bank need to collect to have a 99 percent chance of a net loss? | 30 percent of the time, 50 pennies 60 percent of the time, and 51 pennies 10 percent of the time. How many rolls does the bank need to collect to have a 99 percent chance of a net loss? | ||
<ul class="mw-excansopts"> | |||
<li>2,400</li> | |||
<li>2,435</li> | |||
<li>3,450</li> | |||
<li>4,500</li> | |||
<li>4,870</li> | |||
</ul> | |||
'''References''' | '''References''' | ||
{{cite web |url=https://math.dartmouth.edu/~prob/prob/prob.pdf |title=Grinstead and Snell’s Introduction to Probability |last=Doyle |first=Peter G.|date=2006 |access-date=June 6, 2024}} | {{cite web |url=https://math.dartmouth.edu/~prob/prob/prob.pdf |title=Grinstead and Snell’s Introduction to Probability |last=Doyle |first=Peter G.|date=2006 |access-date=June 6, 2024}} | ||
Latest revision as of 00:31, 28 June 2024
A bank accepts rolls of pennies and gives 50 cents credit to a customer without counting the contents. Assume that a roll contains 49 pennies 30 percent of the time, 50 pennies 60 percent of the time, and 51 pennies 10 percent of the time. How many rolls does the bank need to collect to have a 99 percent chance of a net loss?
- 2,400
- 2,435
- 3,450
- 4,500
- 4,870
References
Doyle, Peter G. (2006). "Grinstead and Snell's Introduction to Probability" (PDF). Retrieved June 6, 2024.