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You are trying to decide whether to buy a lottery ticket for $1.00 with the following potential payoffs and probabilities.

  1. You are trying to decide whether to buy a lottery ticket for $1.00 with the following potential payoffs and probabilities. Given this information, should you buy this ticket?
OutcomePayoutProbability
Match Five + Powerball$50,000,000.000000006844
Match Five$200,000.000000280614
Match Four + Powerball$10,000.000001711060
Match Four$100.000070145903
Match Three + Powerball$100.000083836351
Match Three$7.003424657534
Match Two + Powerball$7.001340482574
Match One + Powerball$4.007812500000
Match Zero + Powerball$3.014285714286