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i need help with this please! 3. (16) A high school football booster clubs holds a fundraiser. One hundred raffle tickets are sold for $10
i need help with this please!
3. (16) A high school football booster clubs holds a fundraiser. One hundred raffle tickets are sold for $10 each. Suppose you buy a ticket. There is a first prize of $200, two second prizes of $75 and three third prizes of $50. A random drawing selects the winners. a) Fill out the probability distribution for this raffle. X P(x) XP(x) b) Find the expected net winnings/loss of this raffle. c) Is this raffle fair, or unfair against the person purchasing the ticket, or unfair in favor of the person purchasing the ticket? Justify yourStep by Step Solution
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