0.625 You have either a $1-coin or a $2-coin in your right-pants pocket, but you
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0.625 You have either a $1-coin or a $2-coin in your right-pants pocket, but you are unsure which one. You grab a $2-coln from your change contalner- so you can buy yourself a bottle of water before your statistics class- and put it in your right-pants pocket. to you pocket, you surmise that the chance of you having a š1-coin is 4-times more than likely than having $2-coin in your right-pants pocket and order a bottle of water from a food service outiet on campus. The price of the bottle of water is $3.08. Since the only monay you have on hand is in your right-pants pocket, you reach into your right-panits pocket and randomly pull out cne of the two coins. It is a $2-coin. What is the probability that you do not have enough money to purchase the water? Enter your answer to four decimal places. Preview My Answers Submit Answers u ave attempted this problem 3 times. ur overal recorded score is 0%. u have 2 attempts remaining.Explanation / Answer
prior probability of having a $1 coin =0.8 and that of $2 coin =0.2
probability that you take out a $2 coin=P(you have 1 $ 1 coin and 1$ 2 coin and you take out a $ 2 coin + you have both $2 coins and you take out $2 coin)=0.8*(1/2)+0.2*1 =0.6
hence probability that you do not have enough money =P(you have 1 $1 and one 2$ coin)/P( you draw $2 coin)
=0.8*(1/2)/0.6=2/3=0.6667
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