You have either a $1-coin or a $2-coin in your right-pants pocket, but you are unsure which one.You grab a $2-coin from your change container – so you can buy yourself a bottle of water before your statistics class – and put it in your right-pants pocket.Prior to adding the $2-coin to you pocket, you surmise that the chance of you having a $1-coin is 5-times more than likely than having a $2-coin in your right-pants pocket.You arrive at school and order a bottle of water from a food service outlet on campus. The price of the bottle of water is $3.05. Since the only money you have on hand is in your right-pants pocket, you reach into your right-pants pocket and randomly pull out one of the two coins. It is a $2-coin.What is the probability that you do not have enough money to purchase the water?
