Question

The Knightrola Lottery has been updated to allow choosing 6 numbers out of 63. Choosing 3...

The Knightrola Lottery has been updated to allow choosing 6 numbers out of 63. Choosing 3 numbers correctly nets a $10 prize, choosing 4 numbers grants a $50 prize, and choosing 5 numbers correctly gives a $5,000 prize. If the Lottery charges $1 a ticket and expects to precisely break even, how much should its prize for getting all 6 numbers correct be?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
(20) The Knightrola Lottery has been updated to allow choosing 6 numbers out of 63. Choosing...
(20) The Knightrola Lottery has been updated to allow choosing 6 numbers out of 63. Choosing 3 numbers correctly nets a $10 prize, choosing 4 numbers grants a $50 prize, and choosing 5 numbers correctly gives a $5,000 prize. If the Lottery expects to precisely break even selling $1 tickets, how much should its prize for getting all 6 numbers correct be?
13. In a state lottery, you must correctly select 6 numbers (in any order) out of...
13. In a state lottery, you must correctly select 6 numbers (in any order) out of 32 to win the top prize. a) How many ways can 6 numbers be chosen from 32 numbers? (show work) ________________________ b) If you purchased one ticket, what is the probability that you will win the top prize? (show work) ________________________
Megabucks is a lottery game played in Massachusetts . A random drawing of 6 numbers out...
Megabucks is a lottery game played in Massachusetts . A random drawing of 6 numbers out of all 36 numbers from 1 to 36 is made. In problems below you can give answers in terms of combinatorial symbols (combinations, permutations, etc.) a. To win the jackpot (which is usually worth several million dollars) a ticket should have correct all the 6 numbers drawn regardless of their order. (A filled ticket contains 6 numbers.) What is the probability that a randomly...
Bob, Chad and Dylan had been dreaming of this day for the past six years; ever...
Bob, Chad and Dylan had been dreaming of this day for the past six years; ever since they first met in an introductory economics course in college. For several years they had been pooling their money and buying Arizona Lottery tickets dreaming that one day they would win big. They realized that the lottery was considered by many to be a voluntary tax on the statistically challenged. But miraculously they now sat at their favorite local �watering hole� holding the...
Comment you thought on this discussion 100 plus words DISCUSSION Red Bull Red bull has been...
Comment you thought on this discussion 100 plus words DISCUSSION Red Bull Red bull has been giving consumers “wings” since 1987. Red Bull is an Austrian company with the highest market share of any energy drink in the world. The company is #76 on the “Forbes Most Powerful Brand List” in 2015 and is continuing to grow. From the beginning, their marketing strategy has centered around brand awareness and word of mouth through viral videos and event marketing. The company’s...
Team 5 answer the questions What are 4 key things you learned about the topic from...
Team 5 answer the questions What are 4 key things you learned about the topic from reading their paper? How does the topic relate to you and your current or past job? Critique the paper in terms of the organization and quality. Incentive Systems             In this paper, we will focus primarily on financial rewards that companies use to attract, retain and motivate the brightest and most talented candidates in the labor market. By providing a reward system that...
The Business Case for Agility “The battle is not always to the strongest, nor the race...
The Business Case for Agility “The battle is not always to the strongest, nor the race to the swiftest, but that’s the way to bet ’em!”  —C. Morgan Cofer In This Chapter This chapter discusses the business case for Agility, presenting six benefits for teams and the enterprise. It also describes a financial model that shows why incremental development works. Takeaways Agility is not just about the team. There are product-management, project-management, and technical issues beyond the team’s control. Lean-Agile provides...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT