Probability question

[inogen]

Stop trolling. I said as much in the OP, I was

Would you say to me "I paid £1 for a raffle ticket yesterday and won £5. What's the probability that I made a profit?" No, because it's a stupidly pointless question. Can you understand that...?

It's more than a stupid question as it contains the answer within it.

Go check out Pascals Triangle. It's quite interesting.

 

[geuben]

Unless i'm being really stupid....*better maths than me*

I believe you are correct. It's been a while since I didn't statistics and I did it in a rush at work. However you arrive at the same conclusion as I do,

5/25 is not better odds than 5/25 when multiple tickets are drawn.

 

[Haircut]

Would you say to me "I paid £1 for a raffle ticket yesterday and won £5. What's the probability that I made a profit?" No, because it's a stupidly pointless question. Can you understand that...?

What about...
I want to invest in a raffle: In one raffle I can afford 1 ticket and there are 5 tickets in total, the other I can afford 5 tickets and has 25 ticket in total. Both raffles have the same prize.
Which provides the greatest expected return?

 

[skyripper]

An answer with more thought than mine.

Well I'll be a monkeys uncle. Last time I wander into a maths type thread!

 

[LeeUK]

This thread reminds me of the time when work held a raffle for some charity event. 20p a ticket or £1 a strip but instead of putting the separate tickets in the hat, they folded up the whole strip as one ticket. So you had to the same chance of winning if you had just bought 1 ticket with 5 tickets.