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math exercise (no prize for this :)

Posted By: eXtreme Gammon
Date: Monday, 9 May 2011, at 3:12 p.m.

In Response To: math exercise (no prize for this :) (Bob Koca)

bob 3) Probability (at least 1 correct) = 1 - P(none correct) = 1 - (7239/7240)^N This is > 0.5 for N at least 5019

it should be 7279/7280, giving 5046 for N

However, Rory's rule encompass multiple winner. for 2, his payout is the same, but for 3 and above it has to pay more. his average payout for 5046 is $51.98. to have to pay more than $50 there need to have more than 4797 entries (and in that case there is 2% chances to have 3 winners and 0.47% to have 4 or more.

But now i see Chuck question was about the chances that Rory has to pay, not his equity.

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