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

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False

Explanation:
The expected value is an average result calculated over many repetitions of the experiment. It is found by weighting each possible outcome by its probability and summing these products. However, the expected value does not necessarily represent the most likely outcome (the mode) of a single trial. In a raffle, even if the average profit per ticket is –$5, the majority of tickets might yield a smaller loss (or no loss at all) while a few tickets might have a very large loss, pulling the average down. Therefore, the most likely outcome is not necessarily a net loss of exactly $5.
The statement is false. The expected value of –$5 means that on average, purchasing a raffle ticket results in a loss of $5. However, the most likely outcome isn't necessarily a net loss of exactly $5. It's possible that most tickets result in smaller losses or even a profit, while a few tickets have larger losses that bring down the average.

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

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