2.5-7. In the Michigan lottery game, LOTTO 47, the state selects six balls randomly out of 47 numbered balls. The player selects six different numbers out of the first 47 positive integers. Prizes are given for matching all six numbers (the jackpot), five numbers ($2500), four numbers ($100), and three numbers ($5.00). A ticket costs $1.00 and this dollar is not returned to the player. Find the probabilities of matching (a) six numbers, (b) five numbers, (c) four numbers, and (d) three numbers. (e) What is the expected value of the game to the player if the jackpot equals $1,000,000? (f) What is the expected value of the game to the player if the jackpot equals $2,000,000?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Hi, could you assist me with sections d, e, and f? I'm having difficulty with these portions of the problem. It would be greatly appreciated if you could walk me through the steps and provide clear labels for each part.

2.5-7. In the Michigan lottery game, LOTTO 47, the state selects six balls randomly out
of 47 numbered balls. The player selects six different numbers out of the first 47 positive
integers. Prizes are given for matching all six numbers (the jackpot), five numbers
($2500), four numbers ($100), and three numbers ($5.00). A ticket costs $1.00 and this
dollar is not returned to the player. Find the probabilities of matching (a) six numbers,
(b) five numbers, (c) four numbers, and (d) three numbers. (e) What is the expected
value of the game to the player if the jackpot equals $1,000,000? (f) What is the expected
value of the game to the player if the jackpot equals $2,000,000?
Transcribed Image Text:2.5-7. In the Michigan lottery game, LOTTO 47, the state selects six balls randomly out of 47 numbered balls. The player selects six different numbers out of the first 47 positive integers. Prizes are given for matching all six numbers (the jackpot), five numbers ($2500), four numbers ($100), and three numbers ($5.00). A ticket costs $1.00 and this dollar is not returned to the player. Find the probabilities of matching (a) six numbers, (b) five numbers, (c) four numbers, and (d) three numbers. (e) What is the expected value of the game to the player if the jackpot equals $1,000,000? (f) What is the expected value of the game to the player if the jackpot equals $2,000,000?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 5 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman