Sunday, February 26, 2012

When Should You Play The Lottery?

From the Political Calculations blog site:

Basic Lottery Game Data
Input DataValues
How many possible numbers are there to choose from in the main set?
How many numbers from this set does the player get to pick?
"Powerball" or "MegaBall" Data
How many possible numbers are there to choose from for the Power or Mega Ball?
How many numbers from this set does the player get to pick?
Ticket Cost Data
Cost of a Lottery Ticket
Income Tax Rates
Federal Income Tax Rate (%)
State Income Tax Rate (%)
Local Income Tax Rate (%)


The Odds of Winning the Lottery and the Magic Jackpot
Calculated ResultsValues
The Odds of Winning the Jackpot (1 in ...)
The Magic Jackpot (The Number That Makes Playing the Lottery Worth the Cost of a Ticket)

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