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Procedure/Learning Experience Activity GAME OF CHANCE Read the conversation below and answer the questions that follow. Our television set is no Oh no! I do understand but if Hey Romulo I OK, so longer functional and i you want to take a chance I have a problem. what's your need to buy a new one. have here 5 raffle tickets problem my But the problem is I which cost P100.00 each. If friend? don't have enough you will be lucky enough, you'll budget for that. get a 32-inch LED Television worth P 15,000.00, That's a good deal and the prize is so exciting! But I need to check my budget before buying a ticket. Thanks for informing me. I'll just call you It will be 10 days from when I am ready to buy. By now. You still have time to Thank you the way, when is the raffle decide, just call me if you You're welcome Cardo! Romulo! date? already have your decision. he's a good deal and Be price Socket. Thatia lot morning me Ipil call you I wilbe to cign Fram row You all have Thank you Bartle! Questions: 1. If you are Cardo, would you buy a raffle ticket? Why? 2. How would you describe Romulo as a friend? 3. If Cardo decided to buy one ticket, what is the probability that he would win the prize if 500 tickets were sold? What is the probability that Cardo will lose the bet?. 4. How much money will Cardo gain if he wins the prize? _. How much money will be wasted if he will not win the prize? 5. If you were Cardo, will you buy a ticket? Analysis This time, you need to reflect on the following questions because it will help you to understand the concept of the mean and variance of a discrete random variable. Your honest answer would be a big help for the success of your journey on this module. 1. How do you find the activity? 2. Were you able to answer all five questions? If yes, what helped you to answer each question? If no, why were you not able to answer those questions? 3. Have you experienced a situation where you need to decide to take a chance? If yes, reflect on the factors which affect your decision. 4. What mathematical concepts or skills will help Cardo make his decision? How important these concepts/skills for Cardo to decide and choose the best option? 5. Do games of chance really help individuals with financial problems? Explain