The Lottery

A Lesson Using an Emerging Technology

by Jim Peterson

Click Next for more numbers

 

Step 1: Print this page and in the boxes below, enter 6 numbers between 1 and 60, just like you would if you played the lottery.

 

 

 _

 

_

 

_

 

_

 

_

 

_

Step 2: Refer to the applet above.

You will see 6 random numbers appear on the screen. How many matched your numbers above?

Step 3: Click Next and you will get 6 more random numbers. In the chart below, tabulate the number of correct numbers that you get with each attempt.

Attempt Number
Number Correct
1

_
2

_
3

_
4

_
5

_
6

_
7

_
8

_
9

_
10

_

Step 4: Answer the following questions about your attempts:

1. How many times did you get 6 numbers correct?

2. How many times did you get 5 numbers correct?

3. The real-life Lotto costs $1 per try and you would have to at least get 5 numbers correct to win any money. Would you have won any money?

4. If you played $20 in the Lotto each week, what would you spend in one year?

5. If you invested that same amount of money in the stock market and made a net gain of 12%, how much would that total after one year.

6. Fill out the following chart using the following information. If you invest $1000 per year in the stock market and it makes an average of 12% per year, what would be the total in each of the listed years.

Year
Yearly Investment
Total from previous year
New total after 12% return in the market

1

1000

$0

$1120

2

1000

$1120

$2374.40

3

1000

$2374.40

$3779.33

4

1000

$3779.33

_

5

1000

_

_

10

_

_

_

15

_

_

_

20

_

_

_

25

_

_

_

30

_

_

_

7. How much would you have invested after 30 years? How much would that be worth if you gained 12% compounded annually on that money?