FratBro23
Category:
Biology
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Question description

:The 8th grade class of City Middle School has decided to hold a raffle to raise money to fund a trophy cabinet as their legacy to the school. A local business leader with a condominium on St. Simon’s Island has donated a week’s vacation at his condominium to the winner—a prize worth \$1200. The students plan to sell 2500 tickets for \$1 each.

question: At the last minute, another business leader offers 2 consolation prizes of a week-end at Hard Labor Creek State Park, worth around \$400 each. Have your chances of holding a winning ticket changed? Explain your reasoning. Suppose that the same raffle is held every year. What would your average net winnings be, assuming that you and your 4 friends buy 5 \$1 tickets each year?

(Top Tutor) Daniel C.
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