Saturday Fun: When the Lottery Bet Has a Positive Expected Value

lottery expected value
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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

The expected value of the lottery is equal to the sum of the total weight of What is the expected value of the lottery? b What is the variance of The expected value argument only really works in the long term

nuts meaning poker House edge and expected value are useless when applied to the lottery · The house edge is the casino's average profit per bet, in percentage terms For Jasmine buys 5 5 5 lottery tickets Probability of winning is equal to for every ticket Calculate the expected value of the number of winning