Suppose the STAT Society is running a raffle. There are 200 STAT 3331 students who

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Suppose the STAT Society is running a raffle. There are 200 STAT 3331 students who
want to participate in this raffle. There is only 1 prize... a $10 TI-30XA calculator and someone will win it.

Toparticipate in the raffle, a student must donate $1.

Therefore the xi, representing the STAT Society's profit perticket, would be $1-$10 = -$9 for a winning ticket and $1-$0 = $1 for a non-winning ticket. The probabilityassociated with xi = -$9 is 1/200 while the probability associated with xi = 1 is 199/200.

 

  • 8 years ago
Suppose the STAT Society is running a raffle. There are 200 STAT 3331 students who
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