I'm new so please forgive me if I am reposting something that was already answered but I searched the forum and couldn't find anything.
Heres the problem I have...
5,000 people are invited to pull a lucky certificate from a barrel
The barrels consist of the following denominations
1 - $100,000 certificate
5 - $1,000 certificates
1,000 - $100 certificates
50,000 - $50 certificates
Need to figure out the odds that someone will win for each one of the denominations, I think that it might be a Hypergeometric Distribution?
to complicate things, I then need to recompute based on the same certificates but now distributed over 5 barrels...
Thanks everyone in advance for your help!