Statistics - not my strong point

[RogerS]

See a chap is running a sweepstake for four flats - value circa £1.6m in total. 45000 tickets at £50 each.

I read somewhere that the chances of winning the national lottery is 14million to 1. So if I have 50 goes at the National Lottery does that make my odds 280000 to 1 (ie 14million divided by 50) thus making the 45000 to 1 odds for the four flats much more attractive?

 

[StevieB]

Provided you have 50 different sets of 6 numbers, your chance of winning the jackpot is indeed 50 in 14 million, or 280,000 to 1. Your chance of being the only winner and scooping the entire jackpot however is dependent on total ticket sales and who else has the winning numbers.

Assuming all 4 flats go to the winning ticket then the odds of winning the flats are 45,000 to 1. So you are better off buying a flat ticket than 50 lottery tickets.

However, if you consider the lottery offers prizes for 3 or more matching numbers, you stand a better chance of winning 'something' by doing the lottery.

Or you could buy shares in a barclays and get odds well in excess of the above that they will rise :lol:

Steve.

 

[RogerS]

Thanks Steve.

 

[Steve Maskery]

value circa £1.6m

On what day was it valued, and in the morning or afternoon?

Still a bargain for the winner of course, and a nice premium for him too.

Steve, who got £50 from Ernie this morning!

 

[RogerS]

value circa £1.6m

On what day was it valued, and in the morning or afternoon?

Still a bargain for the winner of course, and a nice premium for him too.

Steve, who got £50 from Ernie this morning!

But you could rent them out for a nice little revenue stream and then sell them when(ever) the market picks up.

 

[Anonymous]

Very nice,,so you can do maths, what would you like,, a gold star,a badge,
hell, might even be able to stretch to a BSc, that would be nice. It could be in, ''how to bore people to death on an internet forum with completely useless stuff'', or even ''how to come on an internet forum to show people that you can add up''...

 

[RogerS]

Very nice,,so you can do maths, what would you like,, a gold star,a badge,
hell, might even be able to stretch to a BSc, that would be nice. It could be in, ''how to bore people to death on an internet forum with completely useless stuff'', or even ''how to come on an internet forum to show people that you can add up''...

Suggest you go and find another forum. There are plenty around that cater for 6 year olds.

 

[Karl]

It could be in, ''how to bore people to death on an internet forum with completely useless stuff'', or even ''how to come on an internet forum to show people that you can add up''...

Better than "i'm a complete tool with a chip on my shoulder".

Cheers

Karl

 

[RogerS]

It could be in, ''how to bore people to death on an internet forum with completely useless stuff'', or even ''how to come on an internet forum to show people that you can add up''...

Better than "i'm a complete tool with a chip on my shoulder".

Cheers

Karl

:lol: :lol:

 

[Anonymous]

Thank you for the pm roger,,might post it here so people can have a look..

It's amazing that for a woodwork forum, the things that are talked about here..... might i suggest that a few people here get out a bit more,,even get some friends,,,yes real life ones, may be even get a life..

 

[wizer]

Par ruppa pum pum

 

[TonyW]

It's amazing that for a woodwork forum, the things that are talked about here..... might i suggest that a few people here get out a bit more,,even get some friends,,,yes real life ones, may be even get a life..

Perhaps you do not realise but you have strayed into General Chat (Off-Topic) "For non-woodworking related topics - yes I know it's a scary thought but there is a life outside woodworking"

You may not like a particular thread or think it a waste of time - if this is the case just walk on by and find another where you can add some positive advice or ask a reasonable question. First couple of posts have not impressed

 

[Argee]

Thank you for the pm roger,,might post it here so people can have a look..

Were you always such a proctologist's delight, or did you have to train? I'm still amazed by the politeness with which others on this Forum treat such obnoxious posts.

Ray.

 

[TrimTheKing]

Thank you for the pm roger,,might post it here so people can have a look..

It's amazing that for a woodwork forum, the things that are talked about here..... might i suggest that a few people here get out a bit more,,even get some friends,,,yes real life ones, may be even get a life..

drummer

Has this post bothered you so much that you have wasted the best part of 10 precious minutes enrolling on a forum just to have a go at someone? Then telling them to get friends and/or a life, but having just spent 10 mins that you could have spent with your own frie.......ahhhhhhh......now I get it!

In my life my greatest commodity is my time, which is finite, and I have just wasted 2 minutes of mine on you.

If you don't like it here I suggest going somewhere where you can enjoy what little (relatively speaking) time you have left on this earth and make the most of it before you inevitably die (probably a lonely and sad death if this is enough to wind you up).

Thanks

Mark

 

[Anonymous]

Tonyw-- agree with you.

There are very genuine helpfull people who post on the other parts of this forum, hats off to them, who you never see post on the section, they are here for woodwork.

Then you have the few who send most of the time here talking complete dribble, thats the ones i refer to, the ones that need to get out more..

 

[TrimTheKing]

Drummer

You total contribution thus far is to abuse someone for sharing a piece of light hearted information and asking a question, where does that put you on the evolutionary scale of forum dwellers?

Come on, surprise us all and stick something worth reading into the finished projects forum.

Cheers

Mark

 

[tombo]

i dont think odds work like that, see if you follow my reasoning.

if your first ticket has a 1 chance in 14 million, then the second tickets odds have only increased by 1 ie 14 million -1 or 1:13999999

To increase your odds to 1:50 you would have to buy a 50th of all available number combinations 280000 tickets!

tom

 

[TonyW]

Tonyw-- agree with you.
I really don't think you do!!! If this was the case you would have just ignored the thread and certainly not replied with sarcastic comments.

There are very genuine helpfull people who post on the other parts of this forum, hats off to them, who you never see post on the section, they are here for woodwork.
My experience of this forum is that all are helpful at least when treated with a modicum of respect. The fact that they may or may not post in this section is irrelevant. How can you know that they never see the post in this section?

Then you have the few who send most of the time here talking complete dribble, thats the ones i refer to, the ones that need to get out more..
If that is your opinion then you should just ignore this section completely

 

[Lincolnshirebodger]

See a chap is running a sweepstake for four flats - value circa £1.6m in total. 45000 tickets at £50 each.

I read somewhere that the chances of winning the national lottery is 14million to 1. So if I have 50 goes at the National Lottery does that make my odds 280000 to 1 (ie 14million divided by 50) thus making the 45000 to 1 odds for the four flats much more attractive?

Approximately correct.

In theory, if you buy a ticket for every possible number combination, you are g'teed to win, but you still might not win it alone. Since the average jackpot is £3M and you only get as high as £10M - £14M on a triple rollover, and the complete set of tickets will set you back £14M, you only need to share with one other person to half your winnings ,and your other tickets wont add up to the missing £7M.

In the US, you were allowed to print your own sheets that you dib the numbers out on (the one they feed into the machine that prints the tickets). Bearing in mind some US lotteries paid out up to $200M, it became a viable proposition to print a full set of dibbers( ie 1 1 1 1 1 1 t o 49 49 49 49 49 49 49 ), then pay a small army of people (you need about 140, this is not an exercise for the faint hearted) to each take $10,000 and a stack of sheets and spend all day buying tickets until you have a full set. With a payout that size you will almost certainly make a profit, and they did, but I think there was a bit of an uproar about it and they stooped people doing it.

 

[beech1948]

I don't think that the odds work like that either.

50 lottery tickets simply means that you have 50 chances each of which has a chance of 1 in 14 million. Having more than 1 ticket does not improve your chances since each ticket has the same odds.

regards

Alan