In expected utility theory, a lottery is a discrete distribution of probability on a set of states of nature. The elements of a lottery correspond to the probabilities that each of the states of nature will occur, e.g. (Rain:.70, No Rain:.30). Much of the theoretical analysis of choice under uncertainty involves characterizing the available choices in terms of lotteries. In economics, individuals are assumed to rank lotteries according to a rational system of preferences, although it is now accepted that people make irrational choices systematically. Behavioral economics studies what happens in markets in which some of the agents display human complications and limitations. (Wikipedia).
Probability Puzzle With Clever Solution: Increasing Lottery Numbers
A lottery draws 5 different numbers from the numbers 1 to 60. What is the probability the numbers are all increasing or all decreasing? What if a lottery ticket draws k distinct numbers from 1 to n? Watch the video for a solution. My blog post for this video https://wp.me/p6aMk-53T If yo
From playlist Statistics And Probability
Which tips and tricks actually work according to probability laws? I discuss the three tips that work to increase your odds of winning the lottery, plus several that do not.
From playlist Contests and Sweepstakes odds
How to find the probability of consecutive events
👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given by the number of outcomes divided by the total possible outcomes. Conditional probability is the chance of an event occurring
From playlist Probability
How to Calculate the Odds of Winning the Lottery
Visual explanation of how to calculate the odds of winning the lottery using probability and using combination theory. How to Calculate the Odds of Losing At the Lottery: http://www.youtube.com/watch?v=1tDqCSi-joQ How to Calculate Permutations and Combinations: http://www.youtube.com/wat
From playlist How to Calculate Permutations and Combinations
Just For Fun! - Statistics (2 of 2) The Probability of Winning the Powerball Lottery
Visit http://ilectureonline.com for more math and science lectures! In this video I will explain how to calculate the probability of winning the Powerball Lottery. First video in this series can be seen at: https://youtu.be/mJbNshVJOI8 Next video for Just For Fun! series (Why We Can Nev
From playlist JUST FOR FUN!
Probability of getting a certain number roll in Monopoly More free lessons at: http://www.khanacademy.org/video?v=2XToWi9j0Tk
From playlist Probability
Finding the probability of choosing cards less than five
👉 Learn how to find the theoretical probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given theoretically by the number of outcomes divided by the total possible outcomes. Conditional probability questions can come in
From playlist Probability
Learn to find the or probability from a tree diagram
👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given by the number of outcomes divided by the total possible outcomes. Conditional probability is the chance of an event occurring
From playlist Probability
Using a tree diagram to find the conditional probability
👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given by the number of outcomes divided by the total possible outcomes. Conditional probability is the chance of an event occurring
From playlist Probability
Mod-04 Lec-27 Mixed Strategy Nash Equilibrium: Introduction
Game Theory and Economics by Dr. Debarshi Das, Department of Humanities and Social Sciences, IIT Guwahati. For more details on NPTEL visit http://nptel.iitm.ac.in
From playlist IIT Guwahati: Game Theory and Economics | CosmoLearning.org Economics
Lecture 5: Uncertainty and Linear Programs
MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2
From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Solution Problem #6 Easy Lottery
Solution Problem #6 Easy Lottery
From playlist Solutions to Bi-weekly Physics Problems
IPAM: "Some People Have All the Luck" - Skip Garibaldi, Lawrence Mower, and Philip B. Stark
IPAM Public Lecture: "Some People Have All the Luck" Presented by Skip Garibaldi, Lawrence Mower, and Philip B. Stark April 28, 2014 CNSI Auditorium For more information: http://www.ipam.ucla.edu/programs/PUBLEC2014/
From playlist Public Lectures
How to Use Math to Get Rich in the Lottery* - Jordan Ellenberg (Wisconsin–Madison)
For seven years, a group of students from MIT exploited a loophole in the Massachusetts State Lottery’s Cash WinFall game to win drawing after drawing, eventually pocketing more that $3 million. How did they do it? How did they get away with it? And what does this all have to do with mathe
From playlist Mathematics Research Center
Discrete Population Expected Value applications
Discrete Population Expected Value applications
From playlist Exam 1 material
14.3: Dynamic Text (contenteditable attribute) - Hamilton Lottery Simulator with p5.js
In this video, I look at how you can make the content of a written webpage dynamic. The "contenteditable" attribute is used to make a number editable by a user. The "input" event is used to show how other values on the page can change as the user edits the page. Source code: https://git
From playlist 14: Hamilton Lottery Simulator with p5.js
How Not to Be Wrong: The Power of Mathematical Thinking - with Jordan Ellenberg
The maths we learn in school can seem like a dull set of rules, laid down by the ancients and not to be questioned. Jordan Ellenberg shows how wrong this view is through stories that show the power of mathematical thinking. Buy Jordan's book "How Not to Be Wrong: The Hidden Maths of Ever
From playlist Mathematics
When BERT Plays the Lottery, All Tickets Are Winning (Paper Explained)
BERT is a giant model. Turns out you can prune away many of its components and it still works. This paper analyzes BERT pruning in light of the Lottery Ticket Hypothesis and finds that even the "bad" lottery tickets can be fine-tuned to good accuracy. OUTLINE: 0:00 - Overview 1:20 - BERT
From playlist Papers Explained
Determining the conditional probability from a contingency table
👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given by the number of outcomes divided by the total possible outcomes. Conditional probability is the chance of an event occurring
From playlist Probability