Question

A frequently held lottery sells 100 tickets at $1 per ticket every time it is held. one of the tickets must be a winner. a player has $50 to spend. to maximize the probability of winning at least one lottery, should he buy 50 tickets in one lottery or one ticket in 50 lotteries?

Answer 1

he should buy 50 tickets in one lottery because that is a 50/100 chance, or 50% chance

buying one ticket in 50 lotteries he would have a 1/100 chance, or 1% chance