SOA Exam P Sample Question 189
Study guide: Exam P-1
A state is starting a lottery game. To enter this lottery, a player uses a machine that randomly selects six distinct numbers from among the first 30 positive integers. The lottery randomly selects six distinct numbers from the same 30 positive integers. A winning entry must match the same set of six numbers that the lottery selected.
The entry fee is 1, each winning entry receives a prize amount of 500,000, and all other entries receive no prize.
Calculate the probability that the state will lose money, given that 800,000 entries are purchased.
- A) 0.33
- B) 0.39
- C) 0.61
- D) 0.67
- E) 0.74
Answer this question and see the worked solution