{"id":349,"date":"2016-10-11T19:51:15","date_gmt":"2016-10-11T19:51:15","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/math4libarts\/?post_type=chapter&p=349"},"modified":"2017-04-04T23:30:49","modified_gmt":"2017-04-04T23:30:49","slug":"calculating-the-odds-of-an-event","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/chapter\/calculating-the-odds-of-an-event\/","title":{"raw":"Why It Matters: Probability","rendered":"Why It Matters: Probability"},"content":{"raw":"According to the news, the lottery jackpot is climbing by the hour. \u00a0Long lines of dreamers are forming wherever lottery tickets are sold. \u00a0While you don\u2019t usually buy lottery tickets, it is getting tempting. \u00a0Just imagine what you could do with $100 million dollars. \u00a0Perhaps you could retire early or never even go to work. \u00a0Maybe buy a rare fancy car. \u00a0All you need to do is pick the correct numbers, and the jackpot is all yours!\r\n\r\n\"Image<\/a>\r\n\r\nIt sounds easy enough; just six simple numbers. \u00a0But how likely are you to win? \u00a0And could you increase the likelihood of winning by purchasing more lottery tickets?\r\n

\"Image<\/a><\/p>\r\nTo answer these questions, you need to know about permutations and combinations. \u00a0So learn about them as you complete this module, and then we\u2019ll return to the lottery at the end. \u00a0Then you\u2019ll be able to decide whether you want to stand in line to purchase a ticket.\r\n\r\n \r\n

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Learning Objectives<\/h3>\r\n
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\r\n\r\nComputing the Probability of an Event\r\n