A charity is selling raffle tickets at $5 apiece. Out of the 100 tickets sold, ten third-place winners will be drawn, each winni

Question

3 years ago

8

A charity is selling raffle tickets at $5 apiece. Out of the 100 tickets sold, ten third-place winners will be drawn, each winni

ng $20. Five second-place winners will be drawn, each winning $50. Lastly, one grand prize of $100 will be awarded. Is a raffle with these rules a good idea for the charity? Why or why not?

Mathematics

2 answers:

Eduardwww [97] · Answer 1 · 2022-05-08T07:33:19+03:00

Eduardwww [97]3 years ago

5 0

The Answer is No because that will replace with 0.50cents

Vsevolod [243] · Answer 2 · 2022-05-08T06:07:14+03:00

Vsevolod [243]3 years ago

3 0

The answer is <span>No, because one ticket’s expected value is worth $0.50 more than the face value. </span>