In a message dated 8/26/2003 4:55:32 PM Central Daylight Time,
graytleegray@aol.com writes:
100 tickets for drawing
$1k prize fundIf the drawing is for one ticket and one winner then each ticket has
a value of $10.But, the $1k is won in four parts. Four different drawings for $100,
$200, $300 and then $400. You can't win more than one. Is a drawing
ticket still worth $10?
Correct. EV on one ticket is $10 regardless of how the $1000 is
distributed... ofcourse, if you start adding contestants after each ticket is drawn you
can get out a calculator and figure it out yourself;-) And if the ticket isn't
drawn then it has an actual value of zero.
Chandler
"...there is always a well-known solution to every human problem--neat,
plausible, and wrong." H. L. Mencken
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