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19 May, 06:00

A frequently held lottery sells 100 tickets at $1 per ticket every time it is held. one of the tickets must be a winner. a player has $50 to spend. to maximize the probability of winning at least one lottery, should he buy 50 tickets in one lottery or one ticket in 50 lotteries?

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  1. 19 May, 09:23
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    he should buy 50 tickets in one lottery because that is a 50/100 chance, or 50% chance

    buying one ticket in 50 lotteries he would have a 1/100 chance, or 1% chance
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