The image attached is a problem from the PrepSwift quiz under ‘choosing smart numbers’ in Quant Strategy. It is question 8 of 8.
“The probability of event X happening given event Y happens is p. What is the probability that if Y happens five times, X does not happen at least once?”
My Answer:
- P does not happen at least once = P never happens = (1-P)^5
Correct Answer:
- 1-P^5
I am not sure why the probability of an event not happening at least once is not denoted as (1-p)^5 [my chosen answer] as opposed to 1-p^5 [the answer that is regarded as correct]
- I thought 1-p^5 simply denotes the probability that something happens less than 5 times, while (1-p)^5 denotes something not happening at all (or not happening in five trials).