The expected value when you purchase a lottery ticket is -$2

If one million people purchase a ticket, the expected value is $ That difference is the profit that lottery companies make Only on sporadic occasions is

The expected value is per dollar As for powerball and other mega lotteries I would say yes and here is the reasoning I will use a

expected value of lottery ticket Expected Value Calculation The expected value of a lottery ticket can be calculated using the formula: Expected Value = Sum of (Probability of each outcome

pick 3 lottery formula free In 2005, while researching the expected value for lottery tickets in various states, a group of MIT students won millions of dollars in the Massachusetts $2