A classic probability problem is called the collectors problem. For example, suppose that cereal boxes contain one
Question:
A classic probability problem is called the collector’s problem. For example, suppose that cereal boxes contain one prize each, with a total of four prizes to be collected. Also suppose that each box of cereal is equally likely to contain any one of the four prizes, and the particular prize appearing in one box has no bearing on the prize that appears in another box. You purchase one cereal box at a time, see which prize is in it, and continue buying one box at a time until you have the complete set of four prizes. Describe (in detail) how you could (in principle, not necessarily practically) use four index cards to conduct a simulation analysis to approximate the probability that you would need to buy at least 10 boxes to find a complete set of prizes.
Step by Step Answer:
Introduction To Statistical Investigations
ISBN: 9781119683452
2nd Edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy