The Florida lottery game Lotto is played by choosing six numbers from 1 to 53. If these numbers match the ones drawn by the lottery commission, you win the jackpot. The table below shows the probability of winning a $28,000,000 jackpot, along with the amounts and probabilities of other prizes. Assuming that the jackpot was not split among multiple winners, find the expectation for buying a $1 lottery ticket. Round to the nearest tenth of a cent. Match 6 $28,000,000 1 22,957,480 Match 5 $3673 141 11,478,740 Match 4 $57 3243 4,591,496 Match 3 $5 16,215 1,147,874
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The Florida lottery game Lotto is played by choosing six numbers from 1 to 53. If these numbers match the ones drawn by the lottery commission, you win the jackpot. The table below shows the probability of winning a $28,000,000 jackpot, along with the amounts and probabilities of other prizes. Assuming that the jackpot was not split among multiple winners, find the expectation for buying a $1 lottery ticket. Round to the nearest tenth of a cent.
| Match 6 | $28,000,000 |
|
||
| Match 5 | $3673 |
|
||
| Match 4 | $57 |
|
||
| Match 3 | $5 |
|
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
