What would you do with 5 million dollars?
06-02-2009, 09:41 PM
#51
Contributors
Originally Posted by v_therussian' post='898948' date='Jun 3 2009, 01:00 AM
Now, there's a business idea! 
And don't the odds go against you when you buy more tix in the same drawing? I couldn't prove it mathematically right now, but somehow I just feel that the more tix you buy, the worse your odds get... I don't know - any math people here - am I totally off on this?
And don't the odds go against you when you buy more tix in the same drawing? I couldn't prove it mathematically right now, but somehow I just feel that the more tix you buy, the worse your odds get... I don't know - any math people here - am I totally off on this?
Case in point; if you buy one ticket and 10 were sold you have a 10% chance of winning, if you decided to buy two more tickets for a total of three, 12 tickets are now sold with your odds now being 25%.
The problem with the lottery is that we are talking about hundreds of thousands of tickets being sold so the two extra tickets you have purchased have improved your chances but only by thousandths of a percent. If 750,000 tickets are sold and you purchased one you have a 0.0000013% chance of winning, if you buy three your chances become 0.0000040%.
Statistically, you actually have about a 25% greater chance of being in a car accident when going to purchase your three tickets than you have of winning the lottery.
Damn, I'm a math nerd!!!
06-02-2009, 09:44 PM
#52
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
Originally Posted by garylewa' post='898986' date='Jun 3 2009, 01:41 AM
No, your odds improve but only in very small percentages.
Case in point; if you buy one ticket and 10 were sold you have a 10% chance of winning, if you decided to buy two more tickets for a total of three, 12 tickets are now sold with your odds now being 25%.
The problem with the lottery is that we are talking about hundreds of thousands of tickets being sold so the two extra tickets you have purchased have improved your chances but only by thousandths of a percent. If 750,000 tickets are sold and you purchased one you have a 0.0000013% chance of winning, if you buy three your chances become 0.0000040%.
Statistically, you actually have about a 25% greater chance of being in a car accident when going to purchase your three tickets than you have of winning the lottery.
Damn, I'm a math nerd!!!
Case in point; if you buy one ticket and 10 were sold you have a 10% chance of winning, if you decided to buy two more tickets for a total of three, 12 tickets are now sold with your odds now being 25%.
The problem with the lottery is that we are talking about hundreds of thousands of tickets being sold so the two extra tickets you have purchased have improved your chances but only by thousandths of a percent. If 750,000 tickets are sold and you purchased one you have a 0.0000013% chance of winning, if you buy three your chances become 0.0000040%.
Statistically, you actually have about a 25% greater chance of being in a car accident when going to purchase your three tickets than you have of winning the lottery.
Damn, I'm a math nerd!!!
math is the language of the universe... especially, when combined with an AK-47
06-02-2009, 10:09 PM
#53
Contributors
Join Date: Apr 2008
Location: New Jersey
Posts: 2,596
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: '05 545 Titanium Silver, Black Leather - Nav, Logic 7, Cold weather.
Mods:
Carbon filter removed.
M5 iDrive knob.
Umnitza license plate LEDs.
MP3
40% 3M tint
ACS Anti-Roll(sway) bars
RPI Scoop
G-tech Pro RR
CF Roundels
CF Wheel caps
Originally Posted by garylewa' post='898986' date='Jun 3 2009, 01:41 AM
No, your odds improve but only in very small percentages.
Case in point; if you buy one ticket and 10 were sold you have a 10% chance of winning, if you decided to buy two more tickets for a total of three, 12 tickets are now sold with your odds now being 25%.
The problem with the lottery is that we are talking about hundreds of thousands of tickets being sold so the two extra tickets you have purchased have improved your chances but only by thousandths of a percent. If 750,000 tickets are sold and you purchased one you have a 0.0000013% chance of winning, if you buy three your chances become 0.0000040%.
Statistically, you actually have about a 25% greater chance of being in a car accident when going to purchase your three tickets than you have of winning the lottery.
Damn, I'm a math nerd!!!
Case in point; if you buy one ticket and 10 were sold you have a 10% chance of winning, if you decided to buy two more tickets for a total of three, 12 tickets are now sold with your odds now being 25%.
The problem with the lottery is that we are talking about hundreds of thousands of tickets being sold so the two extra tickets you have purchased have improved your chances but only by thousandths of a percent. If 750,000 tickets are sold and you purchased one you have a 0.0000013% chance of winning, if you buy three your chances become 0.0000040%.
Statistically, you actually have about a 25% greater chance of being in a car accident when going to purchase your three tickets than you have of winning the lottery.
Damn, I'm a math nerd!!!
eg Mega Millions: 5 balls from 56 plus 1 from 46
((56x55x54x53x52) / (5x4x3x2) ) x 46 = 175,711,536 (to one)
06-02-2009, 10:13 PM
#54
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
Originally Posted by Brit_in_NJ' post='899009' date='Jun 3 2009, 02:09 AM
I didn't think the odds of winning had anything to do with the number of tickets sold...it's the number combinations that create the odds. However greater number of tickets sold means more chance you will have to share the winnings!
eg Mega Millions: 5 balls from 56 plus 1 from 46
((56x55x54x53x52) / (5x4x3x2) ) x 46 = 175,711,536 (to one)
eg Mega Millions: 5 balls from 56 plus 1 from 46
((56x55x54x53x52) / (5x4x3x2) ) x 46 = 175,711,536 (to one)
06-02-2009, 10:27 PM
#55
Contributors
Join Date: Apr 2008
Location: New Jersey
Posts: 2,596
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: '05 545 Titanium Silver, Black Leather - Nav, Logic 7, Cold weather.
Mods:
Carbon filter removed.
M5 iDrive knob.
Umnitza license plate LEDs.
MP3
40% 3M tint
ACS Anti-Roll(sway) bars
RPI Scoop
G-tech Pro RR
CF Roundels
CF Wheel caps
Originally Posted by v_therussian' post='899015' date='Jun 3 2009, 02:13 AM
Thanks!!! That's exactly where I was coming from - I just couldn't put it in words!
With 5 million you need to diversify as much as you can but that goes for any amount of money really. An M5 and Aston martin DBS Volante would be my first investments
06-02-2009, 10:32 PM
#56
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
Originally Posted by Brit_in_NJ' post='899027' date='Jun 3 2009, 02:27 AM
Actually you would stand a pretty good chance of winning something with 5 million tickets matching partial numbers however only a 1 in 35 chance ( or under 3% chance) of the jackpot. Not a wise investment!
With 5 million you need to diversify as much as you can but that goes for any amount of money really. An M5 and Aston martin DBS Volante would be my first investments
With 5 million you need to diversify as much as you can but that goes for any amount of money really. An M5 and Aston martin DBS Volante would be my first investments
06-02-2009, 10:35 PM
#58
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
I'd prolly get a 535i and just hook it the hell up! I'm talking custom alcantara interior and all... and that's a nice daily driver there. Beyond that, a couple of Porsches, a requisite Ferrari... maybe a nice condo in South Beach or smth... I don't know... the bottom line is, that you're not TRULLY rich today, unless you're in the 8 or even 9 figures. For 5 mil, you won't even come close to the best apartments in Manhattan - 5 mil is like a little above average, amazingly enough... I hate this thread, Craig
06-02-2009, 10:51 PM
#59
Contributors
Join Date: Jan 2008
Location: Santa Ana, CA
Posts: 1,813
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2004 530i sport 6spd Sapphire Black/Tan
1)I'll open my own bank, turn my dollars to coins, so I can swim like Scrooge McDuck
2)I'll buy some M5 and give it away to my favorite e60 members . It could be you!
2)I'll buy some M5 and give it away to my favorite e60 members . It could be you!
06-02-2009, 10:56 PM
#60
Contributors
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 1 Like
on
1 Post
My Ride: Alpine White 2006 530Xi (SLD)
Originally Posted by Tru5' post='899055' date='Jun 3 2009, 02:51 AM
1)I'll open my own bank, turn my dollars to coins, so I can swim like Scrooge McDuck
Attachment 80967
2)I'll buy some M5 and give it away to my favorite e60 members . It could be you!
Attachment 80967
2)I'll buy some M5 and give it away to my favorite e60 members . It could be you!