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QUESTION 7 The Math is Cool club is having a raffle. There is one Rest Prize of $150 and 5 Honorable Mention prices of $45 ea

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First prize - $150. 5 Honorable prize $45 each . Ticket cost $2.50 each (2500 tickets). (a) expected value of this raffle, su(b) espected value to win lose. sum of amount won and lost no. of tickets N 150X1+ 45X5 - 2.5 25oo N 150 + 225 -2.5 2500 TI $

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