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Probability Basics and Distributions Guide by pawan is a document available to read on EtoBox.
What is Probability Basics and Distributions Guide about?
Here is the analysis: - Probability of winning with 1 ticket: 1/175,000,000 - Expected value with 1 ticket: -$2 (cost of ticket) - Probability of winning with 100 tickets: ~100/175,000,000 - Expected value with 100 tickets: -($2 * 100) = -$200 So while the probability of winning does increase slightly with more tickets, the expected value remains negative due to the extremely low probability of winning even with 100 tickets. Unless the jackpot is large enough to offset the cost, statistically it does no
- Author
- pawan
- Language
- EN