Question 6.424

2. Connecticut Lotto. The Connecticut Lottery Corporation runs a game called Connecticut Classic Lotto. The player picks six different numbers from 1 to 44 and pays $1 to play.

  • If your picks match 3 of the 6 numbers chosen (probability 0.02381), you win $2.
  • If you match 4 out of 6 (probability 0.001495), you win $50.
  • If you match 5 out of 6 (probability 0.0000323), you win $2000.
  • If you match all 6 numbers (probability 0.0000001417), you win the jackpot. The jackpot on March 17, 2015, was $1,500,000.
    1. Construct the probability distribution of your winnings. Make sure to include the probability of not winning anything (in effect, losing $1), which equals 1 minus the sum of the four probabilities specified above.
    2. Find the expected winnings. Compare this with the price to play.