If the profit on a raffle ticket has an expected value of \( -\$ 5 \), then the most likely outcome of purchasing a raffle ticket is a net loss of \( \$ 5 \). false true

While the expected value of a raffle ticket is indeed \( -\$ 5 \), which indicates an average loss over many tickets purchased, it doesn't guarantee that the most likely outcome is a net loss of exactly \( \$ 5 \). Raffle tickets usually have a range of outcomes, including a small number of winners who may gain. Therefore, it’s possible for someone to break even or win a larger sum on occasion, even though the average expectation points to a loss. When considering whether to buy a raffle ticket, think about the odds and potential prizes versus the cost and average loss. Many people purchase tickets for the thrill of hoping to win, rather than focusing solely on the expected loss. It's essential to weigh the entertainment value against the financial expectation.