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Mathematics, 27.12.2020 16:20 jaylynC
A local school is holding a fundraising event. everyone that attends receives a raffle ticket. at the end of the night the raffle is held. assume 1,000 people attend the event, and hence there are 1,000 tickets in the raffle.
There will be
95 tickets that each win $10
45 tickets that each win $20
20 tickets that each win $50
10 tickets that each win $100
and the rest of the tickets win nothing
What is the variance of the winnings from this raffle?
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