EXTRA CREDIT …
EXTRA CREDIT 4 POINTS You purchase a raffle ticket to help out a charity. The raffle ticket costs $7. The charity is selling 3000 tickets. One of them will be drawn and the person holding the ticket will be given $4000. a. Compute the expected value for this raffle. NO WORK = NO POINTS b. Explain WHY this is or is not Fair game based upon your work from part a.
Read Details