Company a prints scratch-off lottery tickets because they


Company A prints scratch-off lottery tickets. Because they are instant winner tickets, the printing company knows which tickets are winners.

Company A wraps tickets in "packs" of 1,000 tickets each and then ships the packs to Company B.

Company B then distributes the packs of tickets to retailers throughout the Pittsburgh area.

To help prevent people from rigging the game, Company A tells Company B how many winning tickets are in the shipment, but not which packs contain winning tickets.

The winning tickets are supposed to be randomly spread throughout the packs.

You work for Company B. Last month, you received a shipment of 1,008 packs of tickets. You know that that shipment contained six $10,000 grand prize tickets.

When the shipment arrived, you divided it into 16 sets of 63 packs each. Each of these 16 packs went to a different retailer.

You have since discovered that two of the $10,000 grand prize tickets that went out in that shipment ended up at the same retailer.

You suspect that someone at Company A told someone at Company B which packs contained the grand prize tickets, and that the Company B conspirator arranged for two of the packs containing the winning tickets to be sent to the same retailer.

To test your suspicion, you need to know the probability that a single retailer would have received at least two grand prize tickets.

Solution Preview :

Prepared by a verified Expert
Finance Basics: Company a prints scratch-off lottery tickets because they
Reference No:- TGS02308681

Now Priced at $10 (50% Discount)

Recommended (99%)

Rated (4.3/5)