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Practice problem

Probability: What Is Expected Value?

By Expii Solve
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PowerTen\text{PowerTen}

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Three PowerTen tickets. On the $1 ticket, if you match 2 numbers, you win $10. On the $10 ticket, if you match 3 numbers, you win $10,000. On the $100 ticket, if you match four numbers, you win $10,000,000.

The PowerTen lottery has introduced a new game. The rules are simple: you just select numbers 00-99 and watch the drawing. If your numbers match those that are drawn, in the same sequence, you win cash. You have three ticket options:

  • $1\$1 ticket: Pick 22 digits. Win $10\$10 if you match the first 22 balls in order.
  • $10\$10 ticket: Pick 33 digits. Win $10,000\$10,000 if you match the first 33 balls in order.
  • $100\$100 ticket: Pick 44 digits. Win $10,000,000\$10,000,000 if you match all 44 balls in order.

You have exactly $100\$100. You can purchase tickets on your own or work with friends to pool your money. Which of these is the best strategy?

Choose one answer

Type a concept, like “slope” or “photosynthesis”.

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