Another stupid math question

Reply #11

afumbler — Thu, 27 Apr 2006 15:09:42 GMT

Texas

Reply #10

casper — Thu, 27 Apr 2006 14:50:21 GMT

If you bought 7 tickets of any size and only one was a winnier, who won the

money on the other six

Reply #9

afumbler — Fri, 31 Mar 2006 22:33:57 GMT

But if I assume the minimum prize, $2 or $7 and multiply I get $1.10 vs. $2.10. Is that a valid way to look at it? It's a different question than my original. But I invested $6 vs $7 so I guess it would make sense to buy the dollar ticket too. Too much math for me.

Reply #8

afumbler — Fri, 31 Mar 2006 22:17:52 GMT

Thanks. That's what I was trying to figure out. It is better to get the three $2 tickets. Or at least I'll have a better chance of winning a prize, even if I'm not making money.

Reply #7

NewClub — Fri, 31 Mar 2006 21:44:11 GMT

In that case, then the chance of getting nothing from 3 $2 ticket is 76%*76$*76%=45%, the chance of getting at least one prize from them is 1-45%=55%.

Reply #6

afumbler — Fri, 31 Mar 2006 21:34:01 GMT

Yeah, that's what I meant by winning a prize, but they don't have $1 winners on $3 tickets. Not here anyway. I was just trying to figure the odds of winnig any prize like what is represented in the odds they give. I wasn't trying to figure out how to make money. If I was really trying to make money I wouldn't be buying lottery tickets. I was just trying to figure out how you calculate the odds for winning any prize. I think the 7$ ticket would be better than 3 2's and a 1, unless you real... [ More ]

Reply #5

cv844 — Fri, 31 Mar 2006 21:03:38 GMT

I would buy 3 two dollar tickets and 1 1 dollar ticket

Reply #4

NewClub — Fri, 31 Mar 2006 20:43:00 GMT

Let's put it this way: say I sell you a $3 ticket that pays everyone $1, isn't that 100% chance of winning

Reply #3

afumbler — Thu, 30 Mar 2006 23:26:36 GMT

I think the percentage of winning a prize with the three $2 tickets would be 30.2%.

The odds for winning with the $7 ticket would be 36.6%.

Anybody know if that's right

Reply #2

afumbler — Thu, 30 Mar 2006 23:00:01 GMT

I guess the answer is the odds are better on the 7$ ticket than the three 2$ tickets any day.

Reply #1

afumbler — Thu, 30 Mar 2006 21:54:07 GMT

That's not right is it

Another stupid math question

afumbler — Thu, 30 Mar 2006 20:26:10 GMT

Is it better to buy a 7$ scratch off with a 1 in 2.73 chance of winning, or to buy 3

2$'s with a 1 in 4.27 chance each? You have a better chance of winning with the three tickets than you do with the one. You would have a 70% chance of winning a prize with three tickets and only about a 37% chance with the one $7. Is that right