Question

In: Statistics and Probability

In your discussion, please answer the below questions: 1. What role does statistics play in calculating...

In your discussion, please answer the below questions: 1. What role does statistics play in calculating the probability of winning the lottery? 2. Why are the combinations of numbers selected important in calculating the probability of wining the lottery? 3. Given the knowledge of calculating the probability of winning a lottery, why do people still buy lottery tickets?

Solutions

Expert Solution

1.

Statistics play an important role in various fields. It also helps in the calculations of different games such as lottery which is based on a random assessment of the numbers or digits. In a lottery, we know that the winning number is selected by using simple random sampling techniques. This random sampling technique guarantees the equal chance of winning for each number or combination of number. Everyone gets an equal opportunity to win the lottery due to this method. The probability of winning the lottery for everyone is the same.

2.

There are different combinations are available for playing the game of lottery. For each identical combination, probabilities are same for winning these combinations. There are different scenarios for playing lottery. There are one digit match, two digit match, three digit match, and entire number match in the play of lottery. As the matching digits are increases, winning amount of the player is also increases. Due to this reasons, combinations of numbers selected important in calculating the probability of winning the lottery.

3.

Given the knowledge of calculating the probability of winning a lottery, people still buy lottery tickets; because people know that they have an equal chance of winning the game of lottery and there is no any type of bias during the selection procedure due to use of random number techniques. There is a hope of winning a lottery given that there is a high risk of losing, and we could not say that there is ‘no chance’ for winning a lottery.


Related Solutions

What is feminism? What role does it play in this discussion of gender?
What is feminism? What role does it play in this discussion of gender?
What role does the satellite's mass play in calculating orbital velocity?
What role does the satellite's mass play in calculating orbital velocity?
What role does statistics play in epidemiology and public health?
What role does statistics play in epidemiology and public health?
please answer questions. 1. What role do transportation costs play as a trade barrier? 2. What...
please answer questions. 1. What role do transportation costs play as a trade barrier? 2. What actions can a central bank take to influence the foreign exchange value of its currency? 3. What are the patterns in FDI flows between and among developed and developing countries over the last 40 years? 4.What are the main elements of Dunning’s eclectic paradigm? 5.Understand the example shown in class on comparative advantage.
what role does consumption play in shaping your sense of self? what role does it play...
what role does consumption play in shaping your sense of self? what role does it play in our society?
what role does international shipping play in the socio-economic development of Africa. please provide your answer...
what role does international shipping play in the socio-economic development of Africa. please provide your answer in not less than 2 pages with reference.
1. What role does each of the cells below play in the maintenance of the alveolus?
1. What role does each of the cells below play in the maintenance of the alveolus?  great alveolar cell:  squamous alveolar cell:  alveolar macrophage:2. In addition to classifying the respiratory anatomy according to location (upper and lower respiratory tract), we also classify respiratory anatomy according to function—the conducting and respiratory divisions. What is the essential difference between them? • Conducting division: • Respiratory division:3. Which structures are part of the respiratory division?4. During ventilation, where does O2 come from and where is it...
Original answer please. What role does culture play in the use of rewards to motivate personnel?...
Original answer please. What role does culture play in the use of rewards to motivate personnel? Provide an example.
What role does your position play in your argument?
What role does your position play in your argument?
WEEK 9 DISCUSSION Answer any three of the questions below: What does the level of "uncertainty"...
WEEK 9 DISCUSSION Answer any three of the questions below: What does the level of "uncertainty" have to do with risk? If a risk, no longer has a level of uncertainty, is it still a risk - why or why not? Although risk can have both negative and positive consequences, why do you think many project teams tend to focus on negative risks? What is "risk management," and why is it important in the project environment? Does it make sense...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT