Question
A charity is raising money by selling two thousand raffle tickets for $2 each. There is one grand prize worth $500, three secondary prizes worth $200 each, and eight third level prizes worth $20 each.
a) P(Win $200)
[Select]
b) P(Lose $2)
[ Select ]
c) What is the expected value of $2 raffle ticket?
[ Select ]
d) How much does the charity expect to make on the raffle?
a) P(Win $200)
[Select]
b) P(Lose $2)
[ Select ]
c) What is the expected value of $2 raffle ticket?
[ Select ]
d) How much does the charity expect to make on the raffle?
Answers
oobleck
well, there are 2012 total prizes. so,
(a) 3/2012
(b) 2000/2012
see what you can do on (c) and (d)
(a) 3/2012
(b) 2000/2012
see what you can do on (c) and (d)