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Lottery odds

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Consider a state lottery (any state) Describe how you would calculate the odds of winning the jackpot. Do you think it is worth it to buy a ticket? Why or why not?

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This solution describes how you would calculate the odds of winning the jackpot in a state lottery.

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Please see the attached Word document for the solution to this exercise.

Consider a state lottery (any state) Describe how you would calculate the odds of winning the jackpot. Do you think it is worth it to buy a ticket? Why or why not?

In the Florida Lottery, six numbers are randomly drawn from 53 possible numbers. If you select six numbers that match the six numbers drawn exactly, you win the Jackpot. I visited the Florida Lottery web site and found the following table showing that the odds of winning the jackpot to be 1:22,957,480. Below the table I show how these odds were calculated.

FLORIDA LOTTO
Odds of Winning and Estimated Prize payouts
Prize Level Estimated ...

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