Rah Rah College has a limited number of dorm rooms available to students, so every year students participate in a lottery to determine whether they will have school housing next year. Suppose that every year 25 % of the students do not receive school housing. In his sophomore year, Bob Smith is one of the “losers” in the lottery and does not receive school housing. He consoles himself by noting that because 25 % of the students do not receive housing each year “everyone should lose once in the 4 years of college.” He therefore figures that he is assured of getting housing in his junior and senior years. Is Bob’s assumption accurate?