In a survey sponsored by the Consumer Federation of America and the Financial Planning Association, a shocking 21% of Am

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In A Survey Sponsored By The Consumer Federation Of America And The Financial Planning Association A Shocking 21 Of Am 1 (53.17 KiB) Viewed 38 times

In a survey sponsored by the Consumer Federation of America and the Financial Planning Association, a shocking 21% of American adults agreed with the statement, "Winning the lottery represents the most practical way to accumulate several hundred thousand dollars." Perhaps this is because so many Americans don't understand how unlikely it is to win the lottery! To use Powerball as an example, in order to win you must correctly select 5 white balls from 69 possible balls, and then select the correct Powerball (red ball) from 26. From the fundamental counting principle, the number of ways to select your ticket is C(69, 5)xC(26, 1)=292,201,338. If you bought 5 million tickets, as the Australian syndicate did for the Virginia Lottery, your chances of winning Powerball would be less than 2%. (Pirnot, 642) 1) Before October 2015, to select a Powerball ticket you selected five numbers from 1-59 and then selected the Powerball number from 1-35. How many different tickets were possible? 2) Some lotteries ask you to choose five numbers from 1 to 39. If you were to buy 1,000 different tickets, what are your chances of winning?