Alice is given 100 free raffle tickets Each ticket has a 10

Alice is given 100 free raffle tickets. Each ticket has a 10 percent probability of winning $1.

What is Alice expected winning?

What is the standard deviation of Alice

Solution

Given:

.

Expected winning = n * p

Expected winning = 100 *0.10 = 10

.

Standard deviation = sqrt(n*p*(1-p))

Standard deviation = sqrt(100 *0.10 *0.90)

Standard deviation = sqrt(9)

Standard deviation = 3

Alice is given 100 free raffle tickets. Each ticket has a 10 percent probability of winning $1. What is Alice expected winning? What is the standard deviation o

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