Re: Lottery expected value problem
.The possible payouts are:
( a ) Match all 5 white and the red - pays $10,000,000
1/C(53,5) * 42
~8 cents
( b ) Match all 5 white only - pays $100,000
41/C(53,5)* 42
~3cents
( c ) Match 4 white and the red - pays $5,000
5*48/C(53,5)*42
( d ) Match 4 white only - pays $100
5*48*41/C(53,5)*42
( e ) Match 3 white and the red - pays $100
C(5,3)*C(48,2)/C(53,5)*42
( f ) Match 3 white only - pays $7
C(5,3)*C(48,2)*41/C(53,5)*42
( g ) Match 2 white and the red - pays $7
C(5,2)*C(48,3)/C(53,5)*42
( h ) Match 1 white and the red - pays $4
5*C(48,4)/C(53,5)*42
~3cents
Boy these are terrible odds!!
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