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1. The expected value for this raffle According to probability is $50.

   According to the statement

   we have given that the the amount of ticket is $1 and you have a 1 out of 100 chance of winning $50. And we have to find the expected value for this raffle.

   So, For this purpose, we know that the

   In probability , the expected value is a average. Informally, the expected value is the arithmetic mean of a large number of selected outcomes of a random variable.

   And

   Here the chances of winning the raffle is $50

   And we know that the expected value of the raffle is a chances of not winning the raffle.

   So, According to this

   The expected value for this raffle = chances of winning – Total chances

   The expected value for this raffle = 50 – 100

   The expected value for this raffle = -50$

   So, The expected value for this raffle According to probability is $50.

   Learn more about probability here

   https://brainly.com/question/15858152

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