If a salesperson has gross sales of over $600,000 in a year, then he or she is

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If a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five-dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The salesperson’s bonus is 1,000 times the value of the bills drawn.

(A) What is the probability of winning a $26,000 bonus?

(B) What is the probability of winning the maximum bonus, $31,000, by drawing out all bills in the box?

(C) What is the probability of the game stopping at the third draw?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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