In a lottery, you select 5 numbers from 1- 50, 5 numbers are drawn by the lottery, if they match all the 5 numbers you selected, you win the Jackpot. Each lottery is independent. Each time you play you need to pay £1. a)You play this lottery every day for three 365-day years. The probability that you win the Jackpot twice is : b)There are 10 million people playing this lottery like you do ( once a day for three 365-day years), the probability at least one person win th Jackpot twice is: c)ln order to be at least 1.0% sure that you can win the Jackpot at least once, what is the minimum number of year you need to play if you play once a day? (Put down an integer)
In a lottery, you select 5 numbers from 1- 50, 5 numbers are drawn by the lottery, if they match all the 5 numbers you selected, you win the Jackpot. Each lottery is independent. Each time you play you need to pay £1. a)You play this lottery every day for three 365-day years. The probability that you win the Jackpot twice is : b)There are 10 million people playing this lottery like you do ( once a day for three 365-day years), the probability at least one person win th Jackpot twice is: c)ln order to be at least 1.0% sure that you can win the Jackpot at least once, what is the minimum number of year you need to play if you play once a day? (Put down an integer)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:In a lottery, you select 5 numbers from 1- 50, 5 numbers are drawn by the lottery, if they match all the 5 numbers you selected, you win the
Jackpot. Each lottery is independent. Each time you play you need to pay £1.
a)You play this lottery every day for three 365-day years. The probability that you win the Jackpot twice is :
b)There are 10 million people playing this lottery like you do ( once a day for three 365-day years), the probability at least one person win the
Jackpot twice is:
c)ln order to be at least 1.0% sure that you can win the Jackpot at least once, what is the minimum number of year you need to play if you
play once a day? (Put down an integer)
d)Assume there is no other prize except the Jackpot. If you are risk neutral, you will not play the lottery if the Jackpot prize is below
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