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MathematicsMathematics
11 May, 11:49

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

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  1. 11 May, 12:55
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    The Answer is No because that will replace with 0.50cents
  2. 11 May, 13:20
    0
    The answer is No, because one ticket’s expected value is worth $0.50 more than the face value.
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Home » Mathematics » A charity is selling raffle tickets at $5 apiece. Out of the 100 tickets sold, ten third-place winners will be drawn, each winning $20. Five second-place winners will be drawn, each winning $50. Lastly, one grand prize of $100 will be awarded.
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