Question: To answer the first question, consider how the lottery changes for the public with the addition of the syndicate. To be specific, suppose the syndicate

To answer the first question, consider how the lottery changes for the public with the addition of the syndicate. To be specific, suppose the syndicate can invest $7 million and obtain all the possible tickets, making itself a sure winner. Also suppose, n people from the general public purchase tickets, each of which has 1 chance out of 7 million of being a winner. Finally let R be the jackpot carried over from any previous lotteries. Then the total jackpot on this round will be [R 0.39(7,000,000 n)] because 39 cents from every ticket goes towards the jackpot. The number of winning tickets for the public will be Poisson distributed with = n / 7,000,000. However, any member of the public who wins will necessarily have to share the jackpot with the syndicate, which is a sure winner. Use this information to calculate the expected amount the public will win

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