4 ms·
Yes, but there is a difference between expected payout and a person's willingness to play a game of chance. The expected payout of a lottery ticket is the same
by meragrin 11y ago
Yes, but there is a difference between expected payout and a person's willingness to play a game of chance. The expected payout of a lottery ticket is the same for every ticket before the drawing, but everyone has a different willingness to purchase tickets. The person is being asked about their willingness to take on risk and not their objective analysis of the payout.