Description
Assumer there is a national lottery and the winning is worth $10 million. One winning ticket will be selected. If there are 50 million tickets sold, what is the chance that a buyer of one ticket will have the winning ticket?
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Explanation & Answer
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total number of tickets = 50 million = 50 x 10^6
probability of getting one winning ticket = 1/50 million= (1/50 )x10^-6probability = 2x10^(-8)
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