Question
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
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