Powerball: Poisson Approximation to Binomial There is a 1/292,201,338 probability of winning the Powerball lottery jackpot with a single ticket. Assume that you purchase a ticket in each of the next 5200 different Powerball games that are run over the next 50 years. Find the probability of winning the jackpot with at least one of those tickets. Is there a good chance that you would win the jackpot at least once in 50 years?

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Asked Jan 12, 2020
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Powerball: Poisson Approximation to Binomial There is a 1/292,201,338 probability of winning the Powerball lottery jackpot with a single ticket. Assume that you purchase a ticket in each of the next 5200 different Powerball games that are run over the next 50 years. Find the probability of winning the jackpot with at least one of those tickets. Is there a good chance that you would win the jackpot at least once in 50 years?

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Expert Answer

Step 1

Requirements for using the Poisson distribution as an approximation to binomial distribution are as follows:

Statistics homework question answer, step 1, image 1
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Step 2

Where, n is the number of trials and p is the probability of success. If the requirements are satisfied, the Poisson approximation to binomial distribution is used.

Here, the number of trials is 5,200 and is greater than 100. Hence, the first requirement is satisfied.

Statistics homework question answer, step 2, image 1
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Step 3
Statistics homework question answer, step 3, image 1
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