BD - I'm trained in economics and statistics --- just happened to use my training in the Muddle East.
As I recall, there's a few people around here that are at least slightly familiar with the region - but I haven't a clue what the hell that
has to do with powerball.
This isn't odds --- it's finance, risk management, and cost/benefit analysis. You're trying to "precure" a ticket?? Why not drove over to the corner convenience store and buy one? It's not that hard, man!
In any event, the value of calculated risk is equal to the value of a reward, multiplied by the probability of securing that reward.
(I adjusted the value of the reward down for taxes, as well as the possibility that there'd be more than a single winner).
From a financial perspective, it is rational to buy a ticket when the value ("benefit") is greater than the cost. Besides, there's some
value to dreaming and sharing your dreams from time-to-time.
No - I don't think it's rational to buy 1,000 tickets --- but one is fine.
I picked up a Rx at King Soopers after work and the line was almost out the door. Filled up the truck a Bradley and saw only 3 in line so I bought a few. :crossed:
You might need to find some way to spend it ALL before the Mayan prophecies come true next month.
After paying off everything we owe as well as our families, we will be traveling. I am also buying season tix for an entire section at Lambeau Field. You are all invited.
I generally don't bother. But today I did buy a couple of chances. My boss, the best guy I've ever had the pleasure to work for, was fired today. It was purely political. If I win I would divvy up the cash with the members of my department so we could all walk out and leave mgmt. twist in the wind.
cydl wrote: I generally don't bother. But today I did buy a couple of chances. My boss, the best guy I've ever had the pleasure to work for, was fired today. It was purely political. If I win I would divvy up the cash with the members of my department so we could all walk out and leave mgmt. twist in the wind.
Sounds like you have no voice in the workplace.....
Maybe you should organize instead of hoping to win the Powerball to make things right lol