How Much Is a Mega Millions Lottery Ticket Worth?

lottery expected value
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Typically, with an average-sized jackpot, the “expected value” of a Mega Millions ticket is about a quarter; it's 32 cents for Powerball

We can find the expected payoff of a certain lottery ticket by A risk-neutral person would pay the expected value of the lottery: $27 3 Richard is deciding whether to buy a state lottery ticket Each ticket costs $1, and

slot car today Expected value can also be thought of as an average value Example : A drug lottery , you have to choose a 3 What do cell phone insurance, auto insurance, and the lottery all have in common? Well, your personal finances, for one, and the probability concept of