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Odds / Probability question :


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Odds / Probability question :

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  #1 (permalink)
memphis
 
 
Posts: 74 since May 2016
Thanks: 110 given, 14 received

Question :

If there are 1,000,000 people in a lottery ( drawing ) , you enter for 5 of the 10 different prizes they offer ( so 100 entries per 5 prizes ) , you enter 500 entries ( on Average ) into the Drawing per month , and the Drawing occurs every 4 Months

What then , are your Odds of winning 1 of the 5 Prizes that you are trying to win ?


I hope my question makes sense

Thanks so much for any help

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Hi Mom!
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TheShrike's Avatar
 
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Probability of winning a prize is .0005 or 1 in 2000 as far as I can gather

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  #3 (permalink)
memphis
 
 
Posts: 74 since May 2016
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TheShrike ,

so theoretically , if I enter 2,000 tickets , I should win at least 1 of the 5 prizes ?

Thank you again for your help

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Hi Mom!
Bridgeport, Ct
 
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Trading: STONKS
 
TheShrike's Avatar
 
Posts: 525 since Jun 2012
Thanks: 1,566 given, 890 received

No, if you bought 2000 tickets your odds of winning would increase to 4 in 2000 or .002 That's assuming a lot of things in this example by the way. It's not worded thoroughly enough.

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