Probability question. Please help?
I solved this question my way and then looked at the answers and my answer was wrong. Please explain to me why. Here's the question:
Each packet of Cruncho cereal contains one free fridge magnet. There are five different types of fridge magnet to collect. They are distributed, with equal probability, randomly and independently in the packets. Keith is about to start collecting these fridge magnets. Find the Probability that Keith collects all 5 types of fridge magnets by buying just 5 packets.
My (wrong) answer:
5C5 * (1/5)^5 = 0.000 32
which makes sense to me because (1/5) is the probability of getting each fridge magnet. Raising that to the power of 5 gives the probability of getting 5 magnets. Then multiply by 5 to get the number of possible ways of doing this.
The actual answer:
1*(4/5)*(3/5)*(2/5)*(1/5) = 0.0384
But how does that make sense? the question says probabilities are independent!
Please please help!