Answer the following

What's New GAME OF CHANCE .Read the conversation below and answer the questions that follow. Oh no! I do understand but if you want to take a slum; I have here 5 rafe tickets om of 1000 released tickets Which cost P100.00 each. If you will be lucky enough, you'll get a 32-inch LED Television worth 'P15',000.00. Our television set is 'no longer mctional and I. need to buy a new one. But the problem is I don't have enough budget for that. ' Hey Romulo I have a problem. , 0k, so what s your problem my 'iend? 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 when I am ready to buy, _ By the way, when is the rafe date? \\ ' It- Will be 10 days 'on-i now. ' 'You still have. time to decide, , ' just oall' me if you already '. ' have yOur decision. Questions: 1. If you are Cardo, would you buy a raffle ticket? Why? 2. If Cardo decided to buy five tickets, what is the probability that he would win the prize if 1000 tickets were sold? What is the probability that Cardo will lose the bet? 3. How much money will Cardo gain if he wins the prize? 4. How much money will be wasted if he will not win the prize and he buy one ticket? 5. What if 1000 tickets were purchased by different individuals, what is the expected value of buying one ticket? 6. How would you describe Romulo as a friend?What I Can Do Raffle for a Cause! Things to do: Make a plan for a Christmas raffle bonanza in which the PWD (Person with Disability) will be the beneficiaries. The plan should consist of the number of tickets to be sold, the amount per ticket, and the number of winners and their corresponding prizes. Let X be the random variable representing your net gain per ticket, and compute the expected value of X and the net gain if all tickets will be sold out. Also, using your creativity prepare a sample of your ticket. You may use the sample guide to complete your task. Name of Project Brief Description Number of tickets to be sold Price of ticket to be sold Winners and prizes: Expected Value of X: Please show the probability distributions and your solution) Net Gain of the Project: Sample Ticket