Simple prob question

#1
Hey all,

I have a very simple Q and would appreciate if you could confirm the right answer with me.

Scenario: I am playing the lottery and have only 1 ticket. There are 4,000,000 people (1 ticket each) who take part in the draw. There are 1,000,000 prizes to give out. 1 ticket can only win you 1 price (so 1,000,000 winners). What are my odds of winning a price (assume the draw will randomly pick 1m people at the same time)?

So basically 1 in every 4 people wins and I think the odds are 1,000,000/4,000,000, i.e. 1/4 (25%). So there is 25% chance that I may get a prize. Is this correct?

Many thanks,

Valentin
 

rogojel

TS Contributor
#3
hi,
imho the odds would be 1 to 3, the probability 1/4. Chance is as afar as I know not precisely defined so it could be either.

kind regards