Question

The current Powerball jackpot is estimated to be $193 million. The Powerball lottery is decided every Wednesday and Saturday night by drawing five white balls out of a drum with 69 balls and one red ball out of a drum with 26 red balls. The Powerball jackpot is won by matching all five white balls in any order and the red Powerball. Each ticket costs $2. A ticket is defined as a set of five white and 1 red number.

Answer 1

Answer:

"2.660503478" would be the right answers to the key statement.

Step-by-step explanation:

Drawing 5 balls out of 69 can be done in ($\frac{69}{5}$)

=  $\frac{69\times 68\times 67\times 66\times 65}{5!}$

Drawing 1 ball out of 26 red balls can be done in ($\frac{26}{1}$)

= $26$

Then the chance of drawing 5 out of 69 balls including 1 out of 26 red balls and then both matching the jackpot  

= $\frac{1}{11238513\times 26}$

= $\frac{1}{292201338}$

Since the sum of the jackpot is $193-106 and then one ticket costs $2, the estimated value of buying one ticket again for jackpot is $2.

= $\frac{1}{292201338}\times 193\times 10^6+\frac{292201338-1}{292201338}\times 2$

= $2.660503478$