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In a certain state's lottery, 45 balls numbered 1 through 45 are placed in a machine...

In a certain state's lottery, 45 balls numbered 1 through 45 are placed in a machine and seven of them are drawn at random. If the seven numbers drawn match the numbers that a player had chosen, the player wins $1,000,000. In this lottery, the order in which the numbers are drawn does not matter.

Compute the probability that you win the million-dollar prize if you purchase a single lottery ticket. Write your answer as a reduced fraction.

  1. PP(win) =    

A single lottery ticket costs $2. Compute the Expected Value, to the state, if 10,000 lottery tickets are sold. Round your answer to the nearest dollar.

  1. Answer: $

A single lottery ticket costs $2. Compute the Expected Value, to you, if you purchase 10,000 lottery tickets. Round your answer to the nearest dollar.

  1. Answer: $
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