Question

In: Statistics and Probability

this is how the game is played. In a Powerball play slip, a player picks 5...

this is how the game is played. In a Powerball play slip, a player picks 5 numbers from 1 through 69 and 1 number from 1 through 26 (this is the Powerball number). The grand prize is awarded to the player (or players) whose ticket matches all of the numbers on the five chosen white balls and the one chosen red ball. What are the odds of winning? You need to calculate the odds of getting the exact 5 white balls and the odds of getting the Powerball number.

Solutions

Expert Solution

Solution

Back-up Theory

Number of ways of selecting r things out of n things is given by nCr = (n!)/{(r!)(n - r)!}……(1)

Values of nCr can be directly obtained using Excel Function: Math & Trig COMBIN……. (1a)

Now to work out the solution,

Vide (1), 5 numbers from 1 through 69 can be picked up in 69C5 ways

= 11238513 ways [Vide (1a)]

Of these, only one would be the winning combination. Hence,

P(ticket matches all of the numbers on the five chosen white balls) = (1/11238513)

Similarly, 1 number from 1 through 26 (this is the Powerball number) can be picked up in 26C1

= 26 ways [Vide (1)]

Again, only one would be the winning number. Hence,

P(ticket matches one chosen red ball) = (1/26).

Thus,

The odds of winning

= (the odds of getting the exact 5 white balls) x (the odds of getting the Powerball number)

= (1/11238513) x (1/26)

= 1 : 292201338 Answer

[or in probability language, 0.0000000034]

DONE


Related Solutions

Coin taking game This game is played between 2 players, player 1 and player 2. There...
Coin taking game This game is played between 2 players, player 1 and player 2. There are two piles of coins. The values of a coin can be any integer. Both players know the values of all coins in both piles. Player 1 makes the first move, and play alternates between the players. A move consists of taking a coin from the top of either of the piles (either player can take from either pile). The game ends when both...
Let’s suppose that you are going to play the lottery game Powerball. To play, you pick...
Let’s suppose that you are going to play the lottery game Powerball. To play, you pick five different numbers from 1 through 69 plus one Powerball number from 1 through 26. Which is a more likely combination of winning numbers: 1, 2, 3, 4, 5, 6 or 7, 21, 25, 32, 40, 56? Explain your answer. For a $500,000,000 jackpot, which of the two combinations would likely be more lucrative for you if it were to win? In other words,...
Kōnane is a two-player game of capture played on a rectangular board. It begins with the...
Kōnane is a two-player game of capture played on a rectangular board. It begins with the board filled with alternating black and white stones. The players remove two stones that are adjacent vertically or horizontally, either from the middle of the board or from a corner. Then, players alternate moves in which a stone of the player's color jumps over one or more opposing stones, all in the same direction. The stones jumped over are removed. Moves are either vertical...
Consider the Ultimatum Game, a two-player game often played in experimental economics labs. In the Ultimatum...
Consider the Ultimatum Game, a two-player game often played in experimental economics labs. In the Ultimatum Game, one player is given an amount of money and then instructed to give some arbitrary portion of it to an anonymous second player. The second player has the option of accepting the offer or rejecting it. If the second player rejects the offer, neither player gets anything. Now answer the following question if the First Player is given $100: (a) According to traditional...
5) In the MegaMillions lottery a player buys a $1 ticket and picks five numbers from...
5) In the MegaMillions lottery a player buys a $1 ticket and picks five numbers from the numbers 1 to 70. The lottery has a bin with seventy white balls, each with a number from 1 to 70. The lottery picks five balls from the bin with the white balls. If the five numbers the player picked match the numbers drawn on the five white balls then the player wins $1,000,000 (in most states, but not including California, where the...
A lottery game is played in many places and requires​ $1 per ticket to play. To...
A lottery game is played in many places and requires​ $1 per ticket to play. To win the​ jackpot, a person must correctly pick five unique numbers from balls numbered 1 through 36 (order does not​ matter) and correctly pick a final​ number, which is chosen from balls numbered 1 through 26. What is the probability of winning the​ jackpot?
Game Description: The popular rock-paper-scissors game is usually played between two people in which each player...
Game Description: The popular rock-paper-scissors game is usually played between two people in which each player simultaneously chooses either a rock or a paper or scissors (usually with an outstretched hand). The rule of the game is simple: rock crushes scissors, scissors cut paper, and paper wraps rock. If both the players choose the same object, then it ends in a tie. Problem Description: You have to play the rock-paper-scissors game against the computer for 100 times. You receive the...
Two players play a rock-paper-scissors game. The losing player will give $1 to the winning player....
Two players play a rock-paper-scissors game. The losing player will give $1 to the winning player. If it is a draw, no payment is made. The payoff to a player is the amount of money (s)he gets. Represent the situation in a matrix form. Find all the Nash equilibria.
5. Solve for Nash Equilibrium in the following 3 Player Game Player 3: Chooses Enter Player...
5. Solve for Nash Equilibrium in the following 3 Player Game Player 3: Chooses Enter Player 2 High Low Player 1 Low 2,0,4 1,1,1 Medium 3,2,3 0,1,0 High 1,0,2 0,0,3 Player 3: Chooses Opt Out Player 2 Player 1 High Low Low 2,0,3 4,1,2 Medium 1,3,2 2,2,2 High 0,0,0 3,0,3
Consider a gambling game where a player pays $10 to play with a 40% chance of...
Consider a gambling game where a player pays $10 to play with a 40% chance of winning $20, 40% chance of winning $1, and a 20% chance of winning $0. (a) If the player’s utility function is U(M) = M, what is the expected utility from playing the game? How does it compare to the player’s utility of not playing the game, i.e. having $10 for sure? Is the player risk-neutral, risk-loving, or risk-averse, and does the player play? (b)...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT