Simulating one lottery drawing

In the last three exercises of this chapter, we will be bringing together everything you've learned so far. We will run a complete simulation, take a decision based on our observed outcomes, and learn to modify inputs to the simulation model.

We will use simulations to figure out whether or not we want to buy a lottery ticket. Suppose you have the opportunity to buy a lottery ticket which gives you a shot at a grand prize of $1 Million. Since there are 1000 tickets in total, your probability of winning is 1 in 1000. Each ticket costs $10. Let's use our understanding of basic simulations to first simulate one drawing of the lottery.

Define chance_of_winning as the probability of winning the lottery.
- Remember that 1 out of the total number of lottery tickets sold will win.
Set the probability list, which includes the probability of winning the lottery, as defined by chance_of_winning and its complement.
Use np.random.choice() to perform one simulation of this lottery drawing.

Take Hint (-30 XP)

Exercise

Simulating one lottery drawing

Instructions