bers are matched is 2 million dollars. The tickets are $2 each.
1) How many different ticket possibilities are there?
2) If a person purchases one ticket, what is the probability of winning? What is the probability of losing?
3) Occasionally, you will hear of a group of people going in together to purchase a large amount of tickets. Suppose a group of 30 purchases 6,000 tickets.
a) How much would each person have to contribute?
b) What is the probability of the group winning? Losing?
4) How much would it cost to “buy the lottery”, that is, buy a ticket to cover every possibility? Is it worth it?