EmpireTech 9th Anniversary (Summer)Sales

SpacemanSpiff

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I explained to my wife this lottery .. and she said the only way I’m allowed to have more cameras in the house is if I get them for free :)
But honey, these four cameras are free! Free from the constraints of the distribution warehouse that was preventing them from showing us what they're good at!

... Aaannnd that's how it started
 

tigerwillow1

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What's a lottery ticket worth? From a pure math standpoint, $21.57. A good deal for a $5 ticket.
Capture.JPG

But, there are a lot of buts. If you have a free ticket from having bought a camera, you've lost nothing, but the camera you win could have little or no value to you. If you were in the future going to buy the camera you won anyway, you've won its full value. If you win a camera you have no use for, the ticket has little or no value, and you might have lost $5. If you get a camera you can use but never would have bought it, it has some but less than full value. I do it mostly for sport and adventure. On one hand I think it's the most serious gambling I've ever done, until remembering the stock market.
 

Flannigan

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There are 62 prizes. I'm not a probability whiz, but with about 620 tickets I see that as every ticket having a 1 in 10 chance of winning. If you have 5 tickets, a 5 in 10 chance. Did I goof up the calculating?
5 tickets out of a pool of 620 is a 0.806% chance per draw. So take 99.194% and multiply that by itself for each draw, 62 times, and you come up with your chance of NOT winning anything = 60.547%. Very close to 4/10 chances to win with five tickets, not a bad guess at 5/10.
 
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