Example: Lottery probability
The first recorded lottery to distribute prize money was held in 1466 in Bruges, in what is now Belgium, for the announced purpose of providing assistance to
Lottery Definition & Meaning define lottery
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A lottery is a game in which the consequence of each move is determined by the realization of a random variable Let X
define lottery Given a simple lottery x =hq, αi, we denote the vector of outcome utilities by u Definition The expected utility of the simple lottery x =hq, αi is
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