Ticket prices: probability, mean and binomial
Visitors to a popular location purchase different tickets according to the time spent there. The table below outlines the ticket price per visitor.
| Time spent | less than 10 minutes | 10 to 20 minutes | more than 20 minutes | |---|---|---|---| | Ticket price | $5 | $8 | $12 |
It is known that of all visitors:
- 60% purchased tickets for less than 10 minutes
- 25% purchased tickets for 10 to 20 minutes
- 15% purchased tickets for more than 20 minutes.
Find the probability that a randomly selected visitor purchased a ticket for 20 minutes or less.
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Find the mean ticket price, in dollars, purchased by a randomly selected visitor.
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A random sample of five visitors is selected from a large group of visitors.
Find the probability that exactly four of the five visitors purchased tickets for less than 10 minutes.
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