Problem on lottery and decisions


Assignment:

Q1. When playing the lottery in your (or a nearby) state, how many possible "different" tickets are there? How many ways are there to win (note that there are often several levels of winning)? What are your odds of winning?

Q2. Do you agree or disagree that the lottery is a tax on people who are bad at math? Drawing upon your professional (or if you prefer, personal) experience, provide an example(s) of your use of data in the context of making a decision. Describe the data (the objects, their characteristics, the data types and data sources). Was data collected from the entire population or just a sample? If only a sample was taken, why and what method was used? How was the data used to support the decision? Were the methods used descriptive or inferential?

Provide complete and step by step solution for the question and show calculations and use formulas.

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Basic Statistics: Problem on lottery and decisions
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