Expected value of “Running it Twice”
First, let’s settle that running it twice (or any number of times) has the same expectation as running it once.
It is intuitive to deduce that the probability of the second run winning is equal to the first run. Simply recognize that the second run out doesn’t actually depend on the first (pret… Read more
Discover how playing the lottery is nearly the equivalent of a 50% tax on your after-tax disposable income. See how much you lose on average when you dream of winning big!
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