Welcome Guest
Log In | Register )
You last visited December 8, 2016, 2:47 am
All times shown are
Eastern Time (GMT-5:00)

odds?

Topic closed. 19 replies. Last post 12 years ago by CASH Only.

Page 2 of 2
PrintE-mailLink
johnph77's avatar - avatar
CA
United States
Member #2987
December 10, 2003
832 Posts
Offline
Posted: May 9, 2005, 12:11 am - IP Logged

Maverick -

Correct. Or, more precisely in this case, 100 of 458 tickets will be winners, with this ratio present throughout the game. What it doesn't do is make any promises - if you buy 458 tickets at random, you might have anywhere from zero to 458 winning tickets, but, on average, you'll have 100 winning tickets.

gl

j

Blessed Saint Leibowitz, keep 'em dreamin' down there..... 

Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

 =^.^=

    Avatar
    Greenwich, CT
    United States
    Member #4793
    May 24, 2004
    1822 Posts
    Offline
    Posted: May 9, 2005, 12:33 am - IP Logged



    Maverick -

    Correct. Or, more precisely in this case, 100 of 458 tickets will be winners, with this ratio present throughout the game. What it doesn't do is make any promises - if you buy 458 tickets at random, you might have anywhere from zero to 458 winning tickets, but, on average, you'll have 100 winning tickets.

    gl

    j





    The winners are randomly dispersed, right?

    So you could do some math and figure that if you buy 458 tickets in that game you'll stand a 95% chance of having between 70 and 130 winning tickets for example? (Those are make believe stats, but you could do such an analysis, no?)

      johnph77's avatar - avatar
      CA
      United States
      Member #2987
      December 10, 2003
      832 Posts
      Offline
      Posted: May 9, 2005, 3:02 am - IP Logged

      JAG -

      You're probably right - I haven't done an analysis on that or any other scratchoff game, and, without the ticket data indicating the number of tickets printed, payouts, etc., wouldn't even try. But, given the way the factors operate in such an analysis, you're more likely to draw 70 winners than 130. With the odds being as they are, for instance, you're more likely to draw zero winners than 458 simply because there are more non-winning tickets than winners, although either event isn't anything to bet the rent on.

      gl

      j

      Blessed Saint Leibowitz, keep 'em dreamin' down there..... 

      Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

       =^.^=

        Avatar
        illinois
        United States
        Member #14083
        April 20, 2005
        30 Posts
        Offline
        Posted: May 9, 2005, 7:11 am - IP Logged






        A person came in the store where I work at and bought  $120.00 dollars worth of tickets. They all were 20.00 dollar tickets  and everyone of them were losers all on the same game. On which the overall odds on them are 1 in 2.75...





        Wow, that disappointment must've lasted for months.



        It has only 4 days since that happen now.


          United States
          Member #379
          June 5, 2002
          11296 Posts
          Offline
          Posted: May 19, 2005, 9:52 am - IP Logged

           if that happened to me.