Relationship Between Expected Value of a Lotto Ticket and Number
Relationship Between Expected Value of a Lotto Ticket and Number
If you buy one ticket you win 8,999,998 with probability 13×106, and you lose 2 with probability 3×106−13×106, making the expected value of a
lottery L*iff the expected value of L according to f is at least as large as the expected value of L* according to f I will call f a “vNM Even the best positive expectation lottery ticket has odds much worse than one in a million, so let's take that as the odds for a $1 ticket Say
singham lottery result night To calculate the expected return of a single ticket, multiply the odds of a particular payout by the value of that payout If you did this with every possible Lottery mathematics is used to calculate probabilities of winning or losing a lottery game expected value of the information content H = ∑ x − p X (
