Question 1171104
Let's break down this raffle problem step-by-step.

**1. Probability of Winning (P Win)**

* Total number of tickets sold = 2000
* Number of winning tickets = 1
* Probability of winning (P Win) = (Number of winning tickets) / (Total number of tickets)
* P Win = 1 / 2000 = 0.0005

**2. Expected Value**

The expected value is calculated as follows:

Expected Value = (Probability of Winning * Value of Prize) + (Probability of Losing * Cost of Ticket)

* Probability of Winning = 1 / 2000 = 0.0005
* Value of Prize = $75
* Probability of Losing = 1 - (1 / 2000) = 1999 / 2000 = 0.9995
* Cost of Ticket = $1

Expected Value = (0.0005 * $75) + (0.9995 * -$1)
Expected Value = $0.0375 - $0.9995
Expected Value = -$0.962

**Rounding to the Nearest Cent**

* Probability of winning: 0.0005 (no rounding needed)
* Expected Value: -$0.96

**Answers**

* Probability you win if you purchase one raffle ticket (P Win): 0.0005
* Expected value (to you) of one raffle ticket: -$0.96