Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simulate according to the following scenario: 1. A person buys a lottery ticket each week. The ticket price is $2. The person selects five numbers

Simulate according to the following scenario:

1. A person buys a lottery ticket each week. The ticket price is $2. The person selects five numbers from 1 through 69.

2. Generate the 5 winning numbers (the state numbers) randomly

3. Calculate the prize for each play according to the following Power Ball Prizes table.

4. Continue for 30 years.

5. Calculate the total prize after 30 years

6. Calculate the probability of winning the jackpot (match all 5 number) at least once in 30 years.

7. Draw your conclusion.

($2) POWER BALL Prizes
Match Prize
5 of 5 $1,000,000
4 of 5 $100
3 of 5 $7
<=2 of 5 $0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus

Authors: Jon Rogawski, Colin Adams, Robert Franzosa

4th Edition

1319055842, 9781319055844

More Books

Students also viewed these Mathematics questions

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago