Answer
P(lose all 8 bets) = $P(lose 1 bet)^{8}$
$= (1-20/80)^{8}$
$= (60/80)^{8}$
= 0.1001
Work Step by Step
P(lose all 8 bets) = $P(lose 1 bet)^{8}$
$= (1-20/80)^{8}$
$= (60/80)^{8}$
= 0.1001
The Basic Practice of Statistics 7th Edition
by Moore, David S.; Notz, William I.; Fligner, Michael A.
Published by
W. H. Freeman
ISBN 10:
146414253X
ISBN 13:
978-1-46414-253-6
Chapter 13 - General Rules of Probability - Chapter 13 Exercises - Page 320: 13.27
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