Question: Assume that we plan to play the Texas Pick 3
Assume that we plan to play the Texas Pick 3 lottery 100 times. For one bet, there is a 1>1000 probability of winning. If we want to use the Poisson distribution as an approximation to the binomial, are the requirements satisfied? If we use the Poisson distribution to find the probability of 101 wins, we get an extremely small positive number, so is it correct to conclude that the probability of 101 wins is possible, but highly unlikely?
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