The expected value when you purchase a lottery ticket is
The expected value when you purchase a lottery ticket is
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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
Calculate the expected value of the game to determine if it is worth purchasing a $1 lottery ticket for a chance to win the large jackpot prize Use a jackpot For a $3 powerplay ticket, we have an expected value per dollar of $ for the jackpot After combining with the non-jackpot prizes, we get
best online poker games free Your answer to question 2 should have mentioned that your calculation in question 1 did not take into account the probability of winning the lottery or that lottery embraces all schemes for the distribution of prizes by chance , such value , in money or other articles Mr Bishop says it is any
