Final answer:
The probability that Tito wins the grand prize is 1/65. The probability that Tito does not win the grand prize is 64/65. The odds against Tito winning the grand prize are 64:1, and the odds in favor of Tito winning the grand prize are 1:64.
Step-by-step explanation:
To determine the probability that Tito wins the grand prize, we need to calculate the ratio of the number of favorable outcomes to the total number of possible outcomes. In this case, Tito purchased one raffle ticket out of a total of 65 tickets sold. Therefore, the probability of Tito winning the grand prize is 1/65.
To determine the probability that Tito does not win the grand prize, we need to calculate the ratio of the number of unfavorable outcomes to the total number of possible outcomes. In this case, there are 64 tickets that are not the winning ticket. Therefore, the probability of Tito not winning the grand prize is 64/65.
The odds against Tito winning the grand prize can be calculated as the ratio of the number of unfavorable outcomes to the number of favorable outcomes. In this case, there are 64 tickets that are not the winning ticket and only 1 winning ticket. Therefore, the odds against Tito winning the grand prize are 64:1.
The odds in favor of Tito winning the grand prize can be calculated as the ratio of the number of favorable outcomes to the number of unfavorable outcomes. In this case, there is 1 winning ticket and 64 tickets that are not the winning ticket. Therefore, the odds in favor of Tito winning the grand prize are 1:64.