The expected value when you purchase a lottery ticket is -$2

lottery expected value
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In expected utility theory, a lottery is a discrete distribution of probability on a set of states of nature The elements of a lottery correspond to the

When we lose, we lose the cost of the lottery ticket The expected value is the sum of the product of each possibility x with its When we lose, we lose the cost of the lottery ticket The expected value is the sum of the product of each possibility x with its

situs slot terpercaya 2023 terbaru With the odds of winning at 1:292201338, the expected value of a single powerball ticket is still very much $0 You would need to buy hundreds 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