Finished my undergrad in Math over the summer, was going to teach high school. I Decided to go back for my masters starting in the spring, possibly going for the Doc in Applied Math. Want to use it to do some think tank, data mining, economic mapping, general business ideas. Enjoy Mathematical modeling and using math to discern patterns. Oh yeah and have been bartending my way through school. I think even if I hit the lotto I would bartend a night a week. also trying to invest in some more rental property, have one.
[quote]biggieben wrote:
Finished my undergrad in Math over the summer, was going to teach high school. I Decided to go back for my masters starting in the spring, possibly going for the Doc in Applied Math. Want to use it to do some think tank, data mining, economic mapping, general business ideas. Enjoy Mathematical modeling and using math to discern patterns. Oh yeah and have been bartending my way through school. I think even if I hit the lotto I would bartend a night a week. also trying to invest in some more rental property, have one. [/quote]
[quote]tedro wrote:
biggieben wrote:
Finished my undergrad in Math over the summer, was going to teach high school. I Decided to go back for my masters starting in the spring, possibly going for the Doc in Applied Math. Want to use it to do some think tank, data mining, economic mapping, general business ideas. Enjoy Mathematical modeling and using math to discern patterns. Oh yeah and have been bartending my way through school. I think even if I hit the lotto I would bartend a night a week. also trying to invest in some more rental property, have one.
What’s a math major doing playing the lottery?[/quote]
[quote]tedro wrote:
What’s a math major doing playing the lottery?[/quote]
There are times when it’s mathematically correct to play the lotto. If your expected payout is more than the cost of the ticket it’s worth it. Say you have a 1 in 250milion chance of winning and your ticket would be a dollar, if the jackpot is over say 300 mil, if you forget about taxes you should play the lotto, taxes confound it because you don’t get all the money.
It’s some of the interesting and “fun” parts of probability.
[quote]biggieben wrote:
tedro wrote:
What’s a math major doing playing the lottery?
There are times when it’s mathematically correct to play the lotto. If your expected payout is more than the cost of the ticket it’s worth it. Say you have a 1 in 250milion chance of winning and your ticket would be a dollar, if the jackpot is over say 300 mil, if you forget about taxes you should play the lotto, taxes confound it because you don’t get all the money.
It’s some of the interesting and “fun” parts of probability.
Ben[/quote]
You also have to remember that the jackpot is paid out in the form of an annuity, and only use the present value of that annuity, or the cash value if their is that option.
Also, make sure you don’t forget to factor in the probability of splitting the jackpot, which increases as the jackpot increases. As you mentioned, taxes must also be considered. I would also include my time and gas money in the cost of the lottery ticket.
BTW, I graduated in math a little over a year ago. My interests were in interest theory and probability, so I’m just giving you a hard time.
[quote]Renton wrote:
Head of IT for a large UK medical installation. I’ve done a few different jobs, and just like FightinIrish, I used to work at a garden center.[/quote]