Solving Lottery Probability Question: (m t) >= 8.26E6

In summary, the conversation discusses solving a probability question and determining whether to use a Poisson or Binomial distribution. The expected value and variance are also mentioned in relation to the Poisson distribution.
  • #1
superwolf
184
0
Probability question

How do I solve

(m t) >= 8.26E6

?
 
Last edited:
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  • #2
I guess that you can represent it by a Poisson since N is large. I think that a Binomial( 1.859E-7, 19million) would describe X more accurately.

If it were a binomial, then the expected value would be np = 19mil*1.859e-7. Your Poisson needs to have the same expected value, and since Poisson has only one parameter, lambda, which represents both the expected value and the variance, you know the answer.
 
  • #3
Thanks, I solved it and changed the topic.
 
  • #4
I don't understand the question
 
  • #5


superwolf said:
How do I solve

(m t) >= 8.26E6

?

Without knowing what "(m, t)" means, I don't see how anyone can help!
 

Related to Solving Lottery Probability Question: (m t) >= 8.26E6

1. What is the meaning of (m t) >= 8.26E6 in the context of solving lottery probability question?

(m t) refers to the total number of possible combinations in the lottery and 8.26E6 is the winning amount. This equation is used to calculate the probability of winning the lottery.

2. How is the probability of winning the lottery calculated?

The probability of winning the lottery is calculated by dividing the number of possible winning combinations by the total number of possible combinations. This number is often expressed as a decimal or a percentage.

3. Is it possible to increase my chances of winning the lottery?

No, the probability of winning the lottery is based on random chance and cannot be manipulated. However, you can increase your chances of winning by purchasing more tickets.

4. What is the role of (m t) in determining the probability of winning the lottery?

(m t) is the total number of possible combinations in the lottery. It is a crucial factor in calculating the probability of winning as it represents all the possible outcomes in the lottery.

5. Can the probability of winning the lottery be guaranteed?

No, the probability of winning the lottery cannot be guaranteed. It is based on random chance and there is always a possibility of not winning regardless of the number of tickets purchased.

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