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The correct answer would be to sell it as a $54M jackpot then. Or require the organizers to pay the difference out of pocket.
by Nullabillity 4y ago
The correct answer would be to sell it as a $54M jackpot then. Or require the organizers to pay the difference out of pocket.
- jsjohnst 4y agoIs this an attempt at humor?
- Nullabillity 4y agoNo? If you don't know the answer, underestimate and overdeliver. Or consider whether you should be doing it in the first place.
- oneeyedpigeon 4y agoThe problem is that underestimating will cause fewer tickets to be sold.
- Y_Y 4y agoI can imagine a perverse population of customers whose elasticity function prevents the estimate from ever being correct by always buying too many tickets.
- mrguyorama 4y agoA business being less successful if they don't misrepresent reality is perfectly fine to me.
- jsjohnst 4y ago> A business being less successful if they don't misrepresent reality is perfectly fine to me We are talking about a state government backed lottery, not a business.
- jsjohnst 4y ago> I did not know that shit was estimated. > If you don't know the answer, underestimate and overdeliver. Make up your mind, is estimating bad or not? The example I gave isn’t the only possible outcome, some times it’s 1-2% more than quoted when more tickets were sold.
- Nullabillity 4y agoErr, what? I never posted that first quote? And even then, it's perfectly consistent to say that estimating is only OK if it doesn't make you look better than reality.
- brookst 4y agoOr just label it as estimated until tech is developed to determine how many tickets will be sold in advance?