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15.3 Exercise 33

Avg difficulty 2.5

A computer store offers each customer who makes a purchase of $500 or more a free chance at a drawing for a prize. The probability of winning on a draw is 0.05. Suppose the times, in hours, between sales qualifying for a drawing is exponential (4). Under the usual independence assumptions, what is the expected time between a winning draw? What is the probability of three or more winners in a ten hour day? Of five or more?

Pfeiffer, Applied Probability, 15.3 Problems on Random Selection, exercise 33

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Adapted from Applied Probability © 2009 Paul E. Pfeiffer. Licensed under CC BY 3.0. Source: Applied Probability. Imported at revision d7a0420.