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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: RuNE]
    #7646915 -

RuNE said:
wps said:
yeah, I would say my knowledge of mathematical probability is what deters me from playing the lottery.


I know someone who's won it twice.  :shrug:
However unprobable, there is still that small chance you can shoot for. I mean in the end, it's really just a game.  $2 a week is not much for a chance at financial freedom.



let's think about that. $2 a week from age 21 to age 65 @ an average of 9% interest (which the stock market has averaged over the last 100 years)
Code:
Your monthly deposit for 44 years of $ 8.00 for an interest rate of 9.000 % compounded monthly with an initial amount of $ 0.00:


Year	Balance
0	$ 100.06
1	$ 209.51
2	$ 329.22
3	$ 460.17
4	$ 603.39
5	$ 760.06
6	$ 931.42
7	$ 1,118.85
8	$ 1,323.87
9	$ 1,548.11
10	$ 1,793.40
11	$ 2,061.69
12	$ 2,355.15
13	$ 2,676.14
14	$ 3,027.25
15	$ 3,411.28
16	$ 3,831.35
17	$ 4,290.81
18	$ 4,793.38
19	$ 5,343.09
20	$ 5,944.37
21	$ 6,602.06
22	$ 7,321.44
23	$ 8,108.30
24	$ 8,968.98
25	$ 9,910.39
26	$ 10,940.11
27	$ 12,066.43
28	$ 13,298.41
29	$ 14,645.95
30	$ 16,119.90
31	$ 17,732.12
32	$ 19,495.57
33	$ 21,424.45
34	$ 23,534.28
35	$ 25,842.01
36	$ 28,366.23
37	$ 31,127.24
38	$ 34,147.25
39	$ 37,450.56
40	$ 41,063.74
41	$ 45,015.87
42	$ 49,338.73
43	$ 54,067.10


Final Savings Balance: $ 54,067.10


<3 compound interest. that is what your lotto playings are costing you in income potential.


--------------------
No, no, you're not thinking, you're just being logical. ~ Niels Bohr

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: automan]
    #7646958 -

You could say the same for your morning coffee, or paper, or insert item [x] that you don't really need everyday into your equation.

I don't play the lottery as an investment, I do it for fun.


--------------------
~Happy sailing~

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: RuNE]
    #7647141 -

RuNE said:
I don't play the lottery as an investment, I do it for fun.


I never really saw the fun in losing money. :shrug:


--------------------

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: Silversoul]
    #7647243 -

i see the fun it that little bit of excitement playing the 'what if' game. i'm sure buying a lotto ticket makes the game a bit more real.


--------------------
No, no, you're not thinking, you're just being logical. ~ Niels Bohr

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: automan]
    #7647687 -

Yea, the excitement comes at the moment of the scratch, not when you hand money over.  I think I have the same feeling when I have to program some shit and I compile it  :lol:

About the math skills, it is sad.. But many of these people are older and didnt have access to the same education that we do (Im guessing since I dont live in england).  I tutor adults in arithmetic and the number line at the community college, and know that some are just as smart as me but have less education.  Either they are an immigrant from a shittie country, or they were raised in the poor area here in the US.  Especially if they are older and black, they obviously didnt have access to the same eduction that others did.  Anyway, Ill never know how many of these people are disadvantaged and how many are lazy idiots  :tongue2:

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: DieCommie]
    #7647752 -

A couple of dollars a week isn't much for entertainment. If you enjoy it, it's cheap.

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: automan]
    #7649644 -

On my 18th birthday, my mom bought me a lotto ticket. I was like, "Alright! Nothing! Just what I always wanted!"(I didn't actually say that, but I thought it).


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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: Silversoul]
    #7649923 -

Silversoul said:
RuNE said:
I don't play the lottery as an investment, I do it for fun.


I never really saw the fun in losing money. :shrug:


I'm sure you were trying to be witty here, but you seem to misunderstand my point. 

I'm not retarded.  I fully understand that there's a good 99.999% chance i'll lose that $2 that week, and most likely the week after that..  But as it's been said, it's the thrill of playing the 'what if' game.

There's a difference between knowing the facts, and being a complete square.


--------------------
~Happy sailing~

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: RuNE]
    #7650289 -

RuNE, you have been here 7 years and don't have 2,000 posts yet. you, sir, kick ass.


--------------------
No, no, you're not thinking, you're just being logical. ~ Niels Bohr

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Re: Peoples' Math Skills So Poor They Can't Tell if They Won the Lottery [Re: automan]
    #7650564 -

Considering that I consider this place my 'home' of the net, I'm mystified myself.  :lol:

:cheers:


--------------------
~Happy sailing~

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