C. SHOW YOUR SOLUTION. NO SOLUTION, NO POINTS. Raffle Tickets Problem Senior citizens of a particular barangay organize a Christmas raffle bonanza. One thousand raffle tickets are sold for P200.00 each. Each one has an equal chance of winning. The first prize is a 65-inch curve OLED TV worth $100,000.00; the second prize is an iphone worth $50,000.00; and the third price is a grocery pack worth $20,500.00. Let X denote the net gain from the purchase of one ticket. a. Complete the table below showing the probability distribution of X. 100,000 50,000 20.500 200 b. Find the probability of winning any amount in the purchase of one ticket. Let /(W] the probability of winning any amount P(W] - Probability winning 1" price . Probability winning 2" price + Probability winning ]- price P[W] PIW] C. Find the expected value of X, then interpret. The expected value is equal to the product of net gain and the probability of winning (in this case you have three chances of winning, you may win the first, second, or third price) plus the product of net loss and the probability of losing. E(x) . Interpretation