The Michigan Lotto Commission publishes the fol- lowing Odds of winning: Match 6 of 6: 1...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Michigan Lotto Commission publishes the fol- lowing "Odds of winning: Match 6 of 6: 1 in 13,983,816; Match 5 of 6: 1 in 54,201; Match 4 of 6: 1 in 1,032. Overall odds: 1 in 1,013." How are these numbers obtained? Assuming that 1 million play, how large must the prize be before a $1 bet can expect to return more than $1? The Michigan Lotto Commission publishes the fol- lowing "Odds of winning: Match 6 of 6: 1 in 13,983,816; Match 5 of 6: 1 in 54,201; Match 4 of 6: 1 in 1,032. Overall odds: 1 in 1,013." How are these numbers obtained? Assuming that 1 million play, how large must the prize be before a $1 bet can expect to return more than $1?
Expert Answer:
Answer rating: 100% (QA)
If the odds of winning is given as m in n it means that the chances of winning is m and losing ... View the full answer
Related Book For
Elementary Statistics Picturing the World
ISBN: 978-0321911216
6th edition
Authors: Ron Larson, Betsy Farber
Posted Date:
Students also viewed these mathematics questions
-
In Lotto 6/49, a bettor selects 6 numbers from 1 to 49 (without repetition), and a winning 6-number combination is later randomly selected. Find the probability of getting a. All 6 winning numbers b....
-
In the Pennsylvania Match 6 lottery, six numbers between 1 and 49 are randomly drawn. To simulate the number selection process, a TI-83/84 Plus calculator was used to randomly generate 100 numbers...
-
The odds of winning an event A are p: q. Show that the probability of event A is given by P(A) = p / p + q. Use the following information. The chances of winning are often written in terms of odds...
-
Use Theorem 3.11 to evaluate the following limits. THEOREM 3.11 Trigonometric Limits sin x lim X-0 X 1 lim x-0 COS X x = 0
-
Discuss the three steps required to prepare an action plan and the importance of each step.
-
What is the benefit to a business of giving a discount to customers for paying earlier (say in ten days instead of 30)? What difficulties do accountants face when dealing with discounts at the end of...
-
Johanna Marra and Eric Nazzaro began a romantic relationship in October 2013. That previous July, Nazzarro had purchased a duplex that he intended to renovate. Nazzarro rented out the top floor while...
-
Manning Company entered into these transactions during May 2014, its first month of operations. 1. Stockholders invested $40,000 in the business in exchange for common stock of the company....
-
Hobbits are a simple hole-dwelling folk who live in the Shire in northwestern Middle-Earth. They are known for their fondness for food and the comforts of home. Answer each of the following: a. There...
-
As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 20Y9, the following tentative trial balance as of December 31, 20Y8, is prepared...
-
Advise the directors of SAA on the concept of total cost of ownership TCO and how it can be successful applied? (25 marks)
-
Find d / dx ( y ) fory y = sqrt ( sec ( 4 x ) )
-
what can be done to improve employee communication methods
-
A UK retail banking organisation suffered a major computer meltdown that led to a failure in its network of cash machines, online and phone services. A string of operational risks had materialised...
-
Discuss the importance of benefits as a part of employee compensation.
-
DELL is undergoing a re-engineering of its processes and global strategy and is expected to leave its annual dividend unchanged for next 3 years as it develops new products. Its dividend was $10 last...
-
On June 20, 2020,Arsenal Associates purchased a 4-year insurance policy on its equipment for $6,000,000.This is the only insurance policy Arsenal has in place.As of D ecember31,2020 ,what would be...
-
Find the volume of the described solid S. A frustum of a right circular cone with height h, lower base radius R, and top radius r -r- --R
-
Use the fifth row of Table 1 in Appendix B to generate 8 random numbers between 1 and 650. Table 1 in Appendix B 92630 78240 9267 95457 53497 23894 37708 79862 79445 78735 71549 44843 26104...
-
A hospital spokesperson claims that the standard deviation of the waiting times experienced by patients in its minor emergency department is no more than 0.5 minute. A random sample of 25 waiting...
-
Claim: p 1 > p 2 ; = 0.10. Sample statistics: x 1 = 261, n 1 = 556 and x 2 = 207, n 2 = 483 Determine whether a normal sampling distribution can be used. If it can be used, test the claim about the...
-
An MMW side looking SAR has the following specifications: radar velocity v = 70 m/s, elevation angle = 35, operating frequency f0 = 94 GHz, and antenna 3 dB beam width 3dB = 65 mrad. (a) Calculate...
-
Consider a synthetic aperture radar. You are given the following Doppler history for a scatterer: {1000 Hz, 0, 1000 HZ}, which corresponds to times {10 ms, 0, 10 ms}. Assume that the observation...
-
A side looking SAR takes on eight positions within an observation interval. In each position, the radar transmits and receives one pulse. Let the distance between any two consecutive antenna...
Study smarter with the SolutionInn App