Math 2 Statistics

 

Professor Ramos will participate in a lottery that will be played by five hundred participants. He buys a ticket for five dollars. If the lucky randomly selected winner gets one hundred dollars as a prize, what would Ramos' expected winnings or losses be? (Show your calculations, interpret your results, and make sure you answer the question!) 

You have to make this a discussion and reply to at least two classmates' posts where you comment or try to help each other to solve the problem. If you see a mistake from a classmate, in a polite way, help him/her.