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Winning the lottery and play frequently

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Reference no: EM13838411

Many Americans dream of winning the lottery and play frequently. During this discussion, we will look at the lotteries and see if there is really a chance to win.

Your task is to pick a lottery game. It could be from your state, another state, multiple-states, or even an international lottery game (use one where you must select at least three numbers). Do not pick a lottery game already selected by one of your classmates (Hint, you might want to claim your lottery by posting your claim early). Title your initial response the name of the lottery that you will be discussing. For example: The Tennessee State Lottery.

Two good sources for lottery games are www.lotteryusa.com and www.lottery.com (for USA lotteries) and www.lotteries.com for international lotteries.  If you do not have access to these sites, you can get a copy of the lottery rules from a local business who sells lottery tickets or an individual who plays the lottery often. Provide the following information:

  • Describe the lottery and what it takes to win the lottery game. How many numbers are involved? How many numbers have to be selected to win? Is there a special number that is included? Are there any alternative prizes for having just some of the correct numbers?
  • Determine the number of elements in the sample space for the lottery? (Hint: How many different permutations/combinations of numbers are there). Make sure you show your work.
  • Now we will look at the real probability of winning the lottery you selected. (a) Using the concept of Empirical Probabilities, determine the probability of winning the grand prize associated with the lottery you selected.

Hopefully, in this little exercise, you discovered your real chances of winning the selected lottery. Were you surprised? Why do you think promoters of the lottery discuss the odds of winning the lottery versus the probability of winning the lottery? Is there any reason why they would want to do it any other way? Formulate a paragraph (articulating your thoughts) about Ethics? Fraud? Addiction?

Once you have completed (be sure to show your calculations), give your final answer in the following format:          

1. Lottery Description (what it take to win):

2. Elements in Sample Space:

3. Probability of Winning Grand Prize:

4. Opinion/Ethics of Lottery:

Reference no: EM13838411

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