In a game of chance a number of draws are made with

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In a game of chance, a number of draws are made with replacement from a box of tickets; 500 of these tickets are labeled 1 and 450 of these tickets are labeled 1, and the winnings are equal to the sum of draws. Determine whether 50 draws or 500 draws are more likely to maximize your winnings; briefy justify your answer.

Reference no: EM13622839

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