SOLUTION: assume there is a national lottery and the winning ticket is worth $10 million. One winning ticket will be selected. If there are 250 million tickets sold, what is the chance that

Algebra.Com
Question 879447: assume there is a national lottery and the winning ticket is worth $10 million. One winning ticket will be selected. If there are 250 million tickets sold, what is the chance that a buyer of one ticket will have the winning ticket?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
p(winning) =
RELATED QUESTIONS

If each lottery has only one winning ticket, and you buy two tickets to the "Same"... (answered by stanbon)
For #1 - #6 suppose there are two little lotteries in town, each of which sells exactly... (answered by ikleyn)
What is the expected value of a lottery ticket where there are only 10 chances in 20... (answered by Miss-O-Matic)
If each lottery has only one winning ticket, and you buy one ticket to each of the two... (answered by stanbon)
one million tickets are sold for a lottery in which a single prize will be awarded a)... (answered by ewatrrr)
Info: There are two little lotteries in town, each of which sells exactly 100 tickets. (answered by sudhanshu_kmr)
For the daily lottery game in Illinois, participations select three numbers between 0 and (answered by stanbon,solver91311)
You have just won a lottery! You will receive $50,000 a year beginning one year from now... (answered by )
In a lottery, the player selects six numbers from the numbers 1-30. There are six winning (answered by stanbon)