Create an Excel spreadsheet with columns for each step
Columns for each step: “Outcome”, “Probability”, “Prize”, “EMV Contribution”. Use formulas to automate calculations. The final EMV will likely be negative, highlighting the risk involved in playing Powerball
Computing the Probabilities Associated with Powerball
Powerball is a combined large jackpot game and a cash game. Every Wednesday and Saturday night at 10:59 p.m. Eastern Time.
Produce an Excel Spreadsheet that demonstrates the calculations associated with all possible outcomes of the drawing for the given Saturday prior to the assignment due date. This would include the nine ways to win and the remaining ways to loss when playing the Powerball. Find the Expected Monetary Value of purchasing one ticket and discuss the implications for you and all who play collectively.
Make detailed calculations and results should be presented in an Excel spreadsheet, demonstrating the probabilities and expected monetary value for each possible outcome in the Powerball game. The final report should discuss the negative EMV and its implications for players, emphasizing the low likelihood of winning significant prizes despite the game’s popularity.
Columns for each step: “Outcome”, “Probability”, “Prize”, “EMV Contribution”. Use formulas to automate calculations. The final EMV will likely be negative, highlighting the risk involved in playing PowerballComputing the Probabilities Associated with PowerballPowerball is a combined large jackpot game and a cash game. Every Wednesday and Saturday night at 10:59 p.m. Eastern Time.Produce an Excel Spreadsheet that demonstrates the calculations associated with all possible outcomes of the drawing for the given Saturday prior to the assignment due date. This would include the nine ways to win and the remaining ways to loss when playing the Powerball. Find the Expected Monetary Value of purchasing one ticket and discuss the implications for you and all who play collectively.Make detailed calculations and results should be presented in an Excel spreadsheet, demonstrating the probabilities and expected monetary value for each possible outcome in the Powerball game. The final report should discuss the negative EMV and its implications for players, emphasizing the low likelihood of winning significant prizes despite the game’s popularity. Read More
