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re: Cashier at store told me one guy has spent $4000 on Powerball
Posted on 1/13/16 at 2:06 pm to sugar71
Posted on 1/13/16 at 2:06 pm to sugar71
Spend 300 Million to get 50/50 odds
According to this article you'd have to spend 300 million on lotto tickets to get 50/50 odds
According to this article you'd have to spend 300 million on lotto tickets to get 50/50 odds
Posted on 1/13/16 at 2:25 pm to TexasTiger1984
quote:To be exact, you would have buy 50% of the possible combinations, so at $2 per combination, you would have to buy $292,201,338.
According to this article you'd have to spend 300 million on lotto tickets to get 50/50 odds
The trouble part of that article, is this incorrect meme that it was being spread on social media:
quote:$4.3 million times 300 million citizens = $1.3 QUADRILLION.
A meme circulating on social media claims that if the Powerball winnings ($1.3 billion at the time) were evenly distributed among the United States’ population of roughly 300 million, everyone would receive $4.33 million, solving poverty. But that does not add up: 1.3 billion divided by 300 million would actually leave $4.33 per person. (Side note: The country’s population is currently estimated at 325 million).
AND it's no wonder people think the solution is to take from the rich; they have no conceptualization of math whatsoever.
Posted on 1/13/16 at 3:11 pm to TexasTiger1984
quote:
According to this article you'd have to spend 300 million on lotto tickets to get 50/50 odds
Do people really need an article to confirm this? Can't anyone here explain how this works step by step? If you understand what division does, you ought to be able to explain how to think about this problem.
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