# What is the expected value of a lottery ticket which pays $10 million if the ticket contains the six winning numbers chosen from the set {1,2,3,...,50}?

##### 1 Answer

Oct 24, 2015

Expected Value = (Winning Amount) x (Probability of Winning)

#### Explanation:

Winning Amount = $10,000,000

**Assuming only one winning ticket and the "order" of the numbers on the ticket does not matter** :

P(Win) =

E(Win) = 10,000,000 x

Hope that helped