Question
State run lottery games tend to pay out 50% of what the odds against winning are, rounded up. For instance, if the odds against winning
- State run lottery games tend to pay out 50% of what the odds against winning are, rounded up. For instance, if the odds against winning in a game are 499 : 1, the lottery game will pay $250 for a winning $1 ticket. This is how the lottery raises money for the state. Complete the table below with predicted payout values for winning $1 bets using this formula.
3-Digit Drawing = Straight Win: Boxed Win:
4-Digit Drawing= Straight Win: Boxed Win:
5-Number Drawing = Match 5: Match 4:
Super-Mega Drawing= Super mega Jackpot: Jackpot:
Show all work and express the probabilities as both fractions and decimal values. Use scientific notation where appropriate.
3 Digit Probability Answers: Straight = 0.001 Boxed = 0.006
4 Digit Probability Answers: Straight = 0.0001 Boxed = 0.0024
5 Number Drawing Probability Answers: Match 5 = 0.0000005244 Match 4 = 1.153
Super Mega Jackpot Probability Answers: Super Mega Jackpot = 0.2289 Jackpot = 7.37
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