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| Shoozy Quote | Reply | | Help With Odds posted on: 12/12/2005 4:55:18 PM Lets say theres a daily lottery meaning everday a set of 4 numbers comes and who ever guessed them - wins and lets say the odds of winning for each ticket are 1 in 4096 If ill buy 100 tickets ill have 100 in 4096 chance of winning. my question is if i buy 1 ticket for a 100 days do i still have a 100 in 4096 chance of winning? I dont think so since every day the winning numbers are diffrent so buying one everyday for a 100 days would be have diffrent odds is this true? |
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Euler
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Help With Odds
replied on: 6/14/2006 1:03:03 AM I believe if you bought 100 tickets in one day you would have 100*(1/4096) which gives you 100 in 4096 chance, as you said, but if you buy one each day for 100 days, your odds can be interpreted one of two ways- either you have 1 in 4096 chance of winning on each particular day, or you could say that you have 100 in 4096 chance in winning over a 100 day period. I think that is correct, but I am a number theorist, not a statistician, so we will see if anyone disagrees who has more knowledge on the subject. |
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Whiteyhax
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Help With Odds
replied on: 6/15/2006 5:18:30 PM |
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