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Date:         Fri, 29 Sep 2000 10:23:03 -0400
Reply-To:     Jim Agnew <agnew@HSC.VCU.EDU>
Sender:       "SAS(r) Discussion" <SAS-L@LISTSERV.UGA.EDU>
From:         Jim Agnew <agnew@HSC.VCU.EDU>
Organization: Virginia Commonwealth of Virginia
Subject:      Re: In Celebration of a milestone!!!
Content-Type: text/plain; charset=us-ascii

Well, in Virginia, I stand in line behind people in Seven-11's waiting patiently while they cought up 10, 50, 100 bucks for slight chanches... i really feel for 'em, i really do, but stupidity brings it's own punishment....

They did a study on the Penna lottery winners, and w/o exception, all the winners were bankrupt when their money ended. now, i'd expect maybe 50%, but *ALL* of them????

ew.. that alone keeps me outta those lotteries..

> "Mitchell, Brian [EESUS]" wrote: > > Actually there's a very good reason for non-rich people to play high stakes > lotteries even though "on average" they will lose. In economic terms, it > has to do with a non-linear utility function so that they are willing to give up > a small portion of their current income, an amount that has little effect on > their standard of living, for a miniscule chance of being catapulted to riches. > They may be poor but they're not stupid! > > -----Original Message----- > From: David L. Cassell [SMTP:Cassell.David@EPAMAIL.EPA.GOV] > Sent: Thursday, September 28, 2000 11:51 AM > To: SAS-L@LISTSERV.UGA.EDU > Subject: Re: In Celebration of a milestone!!! > > Jules Bosch wrote [in reply to Mark Dehaan]: > > Ah, yes, the statistical aspect of lotteries. > > > > I think rule #1 is that Lotteries are primarily for people who flunked > > statistics. > > I prefer: > > Lottery, n., a tax on the math-impaired. > > :-) > David > -- > David Cassell, OAO Corp. Cassell.David@epa.gov > Senior computing specialist > mathematical statistician


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