a certain state\'s lottery game, lotto, is set up so that each player pays $1 pe

Question

a certain state's lottery game, lotto, is set up so that each player pays $1 per ticket and chooses six different numbers from 1 to 49. if the six numbers chosen match the six numbers drawn each Saturday evening, the player wins the top cash prize. the order in which the numbers are drawn does not matter a) if a person buys 1 lottery, what is probability of winning grand prize b) if he buys 10,000 tickets, what is probability of winning grand prize c) how much must a person spend so that his probability of winning is 1/2 d) what are the odds against winning the lottery in this state, assuming that only 1 ticket is purchased e) if the grand prize is $1,000,000 and there is only one winner, find a player expected value if he purchase 1 ticket (assume all tickets have been sold, all combination have been chosen, and there are no duplicate tickets

Explanation / Answer

a) 1/13983816 = 7.1x10^-6%

b) .071%

c)$5034 million

d) 99.99%

e) $0.071

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