Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Task 2.1: In a bag, there are 20 balls, 12 green balls, and 8 white balls. You draw three balls at random. If you get

Task 2.1: In a bag, there are 20 balls, 12 green balls, and 8 white balls. You draw three balls at random. If you get 3 white balls, you win $5, if you draw 3 green balls you lose $1, otherwise, you neither win nor lose. You can draw the balls in two ways: 1) draw with replacement, or 2) draw without replacement.

Which way you should choose to draw so as to maximize winning? Explain why.

Task 2.2 You are helping to raise $5000 for a school library. You plan to sell 2000 raffle tickets at $3 each to the parents. The first prize is worth $500. The second prize is worth $300. The third prize is worth $200. Five $25 Amazon gift cards will also be awarded. In a school board meeting, a parent asked you what the expected winnings was from buying one ticket. Also in the same meeting, a librarian commended that it was impossible to raise $5000 from selling 2000 raffles. Please give your response to the question and the comment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Algebra

Authors: Charles P McKeague

3rd Edition

1483263843, 9781483263847

More Books

Students also viewed these Mathematics questions