We have learned how to determine the probability of an event either by analyzing an experiment using logic or by collecting experimental data.
There are some situations where it is difficult or even impossible to reason your way to a theoretical probability.
It may also be difficult to collect data by experimentation.
In these situations, mathematicians often use simulations.
This means running an experiment that closely resembles the real situation in terms of probabilities.
As a new promotion, a company is hiding prizes in cereal boxes for kids to collect.
There are four different toys available as prizes.
The four types of prizes are evenly distributed among the cereal boxes.
Set up an experiment to estimate the probability that you will collect at least \(3\) different prizes if you purchase \(5\) boxes of cereal.