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A raffle at a local fair has tickets for purchase for $10 each. There are 100 total tickets in the raffle. The tickets are shuffled, then 3 are selected to win a $100 prize. Use the table below to help you calculate the expected value of this raffle.

Respuesta :

If the probability of success is 0.03. Then the expected value of the raffle will be 3.

What is binomial distribution?

Binomial distributions consist of n independent Bernoulli trials.

The expected value X will be given below.

E(X) = np

A raffle at a local fair has tickets for purchase for $10 each.

There are 100 total tickets in the raffle.

The tickets are shuffled, then 3 are selected to win a $100 prize.

Then the probability of success will be

p = 3/100

p = 0.03

Then the expected value of the raffle will be

n = 100

Then we have

E(X) = np

E(X) = 100 x 0.03

E(X) = 3

Learn more about binomial distribution here:

https://brainly.com/question/13609688

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