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Old 02-27-2006   #1 (permalink)
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Lotto Stats

Okay, I do not mean "Lockout/Tagout - Loto" procedures regarding electricity and safety, but the probability of winning money through game where players select a small group of numbers (usually six) from a large set (usually 49) and are awarded prizes based on how many match the randomly drawn result...


How many scratch off tickets do you reckon I should buy to win $5,000?

Any better ideas on how to quickly come up with this money?






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Old 02-27-2006   #2 (permalink)
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Re: Lotto Stats

I don't play any game that doesn't have the potential to grant me immediate and permanent retirement. $265 million tomorrow night. For me it is worth a couple of bucks to stand outside in that thunderstorm.

Bill


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Old 02-27-2006   #3 (permalink)
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Talking Re: Lotto Stats

Quote:
Originally Posted by InfiniteNow
How many scratch off tickets do you reckon I should buy to win $5,000?
Probability is based on a false assumption of fairness.

Just one; just buy the winnining one.


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Old 02-27-2006   #4 (permalink)
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Re: Lotto Stats

Quote:
Originally Posted by Turtle
Probability is based on a false assumption of fairness.

Just one; just buy the winnining one.


Of course! I should've realized that myself...

Just buy the winnining one.
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Old 02-27-2006   #5 (permalink)
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Re: Lotto Stats

Quote:
Originally Posted by TheBigDog
I don't play any game that doesn't have the potential to grant me immediate and permanent retirement. $265 million tomorrow night. For me it is worth a couple of bucks to stand outside in that thunderstorm.
Agreed. I'll prolly try both forms...

I'm not greedy, just need to gain some traction for a down payment. Turns out that since I am paid as a contractor that I'm gonna get slammed on my sought after mortgage... Curses!!!
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