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B3. You are running a charity event to raise money for the United Way. You sell 100 tickets for $50 each. The prize is $500
B3. You are running a charity event to raise money for the United Way. You sell 100 tickets for $50 each. The prize is $500 and there are 5 winning tickets drawn, but to make it more interesting (and to try and sell more tickets) you inform people that they can win more than once because winning tickets are returned before each draw. If someone buys 60 of the tickets, what is the probability they will win at least 3 prizes? (5 marks)
Answer = .6826
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