Final answer:
The probability of winning the lottery is approximately 10.05%.
Step-by-step explanation:
To find the probability of winning the lottery, we need to determine the number of possible winning combinations and divide it by the total number of possible combinations.
In this case, the winning numbers can be selected from 1 to 34 without repeats. Since the order doesn't matter, we can use the combination formula.
The number of possible winning combinations is C(34, 5) = 34! / (5!(34-5)!), which can be calculated as 278,256.
The total number of possible combinations is C(34, 5), which equals 34! / (5!(34-5)!), resulting in 2,760,681.
Therefore, the probability of winning the lottery is 278,256 / 2,760,681, which simplifies to approximately 0.1005 or 10.05%.