Which is the better scenario in terms of probability with the following:
- I have a hat with 5 tickets in it (I have one).
- There is one single draw.
- I have a 20% chance that my ticket is drawn.
- I have a hat with 25 tickets in it (I have one).
- There are 5 draws.
- After each draw the ticket is returned before the next draw. i.e. potential chance of being drawn 5 times.
- I have a 4% chance each draw
Which has the better probability of being drawn at least once? Ideally I'd like to know how to work this out (and why) so I can learn something :-)