Which lottery ticket would you buy in the following two cases? Lottery 1: Issue 10 tickets, 1 person 1st place, prize money 10,000 won, purchase price 1,000 won Lottery 2: Issue 5 tickets, 3 people 1st place, prize money 2,000 won, purchase price 1,000 won Always keep the same situation as above when purchasing a Spito. face to face Are you always calculating which spito to buy based on the release rate, remaining lottery tickets, and lottery ticket price? We use the expected value to tell you which lottery ticket to buy. Let's calculate the expected value of the above two lotteries. Expected value for lottery 1: 1 (person) x 10,000 (won)/10 (tickets) = 1,000 (won) Expected value for lottery 2: 3 (person) x 2,000 (won)/5 (tickets) = 1,200 (won) lottery 2 If you purchase , you can purchase with the expectation of 1200 won, which is higher than the lottery ticket sales amount of 1000 won. Recommended for an expected value 5 times higher than the lottery purchase price. Strongly recommended for an expected value 10 times higher than the lottery purchase price
