3.1 Discussion: Statistics in Action

Google your state’s Powerball or megamillions and calculate the probability of winning the jackpot. Most sites report odds instead of probability, so you’ll need to do a simple conversion. 

Share a link that takes us to the odds information on your state’s Powerball or megamillions. – (My state is Virginia)

In your original post, answer the following:

• Create a probability table for this distribution
• What is your expected gain or loss from playing?
• If you played 100 times how much would you expect to win or lose?
• After looking at this information and doing a few calculations, would you play?  Why or why not?
• Is it binomial?  I’ll leave this for you to investigate and explain.