New York State Lottery Winning

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Many states conduct lotteries diary of one kind or another. "Numbers" is a popular type. A player select a three digit number from 000 to 999 (any number that appears likely that the unit). In New York, a player select a number of May for $ 1. If the player wins, the payout is $ 500. How many three different two-digit numbers exist for this lottery? What is the possibility of a player? What is a fair price to pay for a ticket? What can you conclude about the cost to play this lottery?

How many numbers? There are ten options for each element. It's like 10 x 10 x 10, which is 1000. Odds of winning are 1 in 1000 for one ticket. Price is really just some people are willing to pay for the ticket. As you probably lose 999 times in 1000, should be fairly inexpensive say a dollar. We conclude that this is not a good way to make money, chances is lost and you must do so pleased if you can not lose money.

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