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Expected value calculations are terrible unless applied to a situation of hundreds or thousands of outcomes. Otherwise you be stupid NOT to buy a lottery ticke
by refurb 9mo ago
Expected value calculations are terrible unless applied to a situation of hundreds or thousands of outcomes.
Otherwise you be stupid NOT to buy a lottery ticket each week.
- moralestapia 9mo agoThe expected value of a lottery ticket is lower than its nominal value, for obvious reasons. I agree with your point, though.