How to Calculate Expected Values
How to Calculate Expected Values
Expected Value and Variance Have you ever wondered whether it would be “worth it” to buy a lottery ticket every week, or pondered questions such as “If I
Title:Maximizing the Expected Value of a Lottery Ticket: How to Sell and When to Buy Abstract:Unusually large prize pools in lotteries like Expected value is the probability multiplied by the value of each outcome For example, a 50% chance of winning $100 is worth $50 to you (if you don't mind the
rich wilde and the amulet of dead slot Expected value is the probability multiplied by the value of each outcome For example, a 50% chance of winning $100 is worth $50 to you (if you don't mind the We use the notation E here to stand for the expected value of the random variable X: the mean profit per ticket is the value we expect to get, on average,
