Question

In a lottery game, a player picks six numbers from 1 to 22. If the player matches all six numbers, they win 40,000 dollars. Otherwise, they lose $1.

Answer 1

To find the probability of winning the lottery game, we can use the formula for combinations:

nCk = n! / (k! * (n - k)!)

where n is the total number of choices (22 in this case) and k is the number of choices we make (6 in this case).

So, the number of possible combinations of six numbers from 22 is:

22C6 = 22! / (6! * 16!) = 13,983,816

Therefore, the probability of winning the lottery game is 1 in 13,983,816.

The expected value of playing the lottery game can be calculated as follows:

Expected value = (Probability of winning * Amount won) - (Probability of losing * Amount lost)

Expected value = (1/13,983,816 * $40,000) - (13,983,815/13,983,816 * $1)

Expected value = $0.5709

This means that on average, the player can expect to win about 57 cents per game played. However, it is important to note that this is just an average and the actual outcome of any single game can vary widely.