I refused to put money into the office Powerball pool because of math — but my boss' rationale for playing is economically sound
|01/06/2016||Posted by BusinessMediaguide.Com under General World News||
Business Insider considered the dollar costs and probabilities involved in winning Wednesday’s massive $500 million Powerball jackpot, and concluded that buying a ticket is a pretty bad decision.
In other words, a rational person who is all about the numbers and the money would not play.
However, for many people, playing the lottery is about much more than money.
Business Insider, like many offices across the country, is holding an office pool for tonight’s drawing. I have decided not to participate, mainly based on our expected value analysis.
My boss, Sam Ro, a deputy editor at Business Insider, continues to offer a read more >>>
Source : BusinessInsider.Com