If a raffle has a winning prize of 100 dollars and each ticket costs 5 dollars with a total of 500 tickets sold, which equation would calculate the expected value?

The expected value uses the net outcome for each possibility. If the ticket wins, the $100 prize minus the $5 ticket cost gives a net gain of $95, with probability 1/500. If it loses, the net outcome is −$5, with probability 499/500, so choice C gives the correct calculation.

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