It’s late for me, so maybe I’m not getting your joke. I was implying that intelligence was used for the math degree and lack of wisdom in buying scratchers. I was also trying to reference an oft quoted DnD Stat meme;
Strength is being able to crush a tomato
Dexterity is being able to dodge a tomato
Constitution is being able to eat a bad tomato
Intelligence is knowing a tomato is a fruit
Wisdom is knowing not to put a tomato in a fruit salad
Charisma is being able to sell a tomato based fruit salad
Also IQ is not intelligence. I’m seeing more and more posts from people who talk about IQ like it’s their real-life INT stat. Is this just an American thing? Do people use the terms interchangeably or are you guys all doing IQ tests regularly and ranking yourselves by how good you are at puzzles?
There are good doctors who smoke cigarettes, there are people who are good at math and still play lottery, it’s the same. They know it’s not good for you, but can’t help it anyway.
To expand on that, people can be smart in one aspect and really fucking dumb in others. Intelligence is a spectrum, it’s not binary like you’re either smart or dumb. Plenty of people who understand quantum level physics etc. who are socially and emotionally at the level of children and vice versa and so on.
Pretty sure the “father” knows exactly what the expected monetary value of those is. They just choose to value the excitement higher. Which is probably why a large portion of the players do it.
If the expected value is positive, then by all means you should play the lottery. Just bear in mind that the utility of money is nonlinear, so Kelly will overextend you - use something like max log-value and rederive.
Kelly is the betting stake formula - just plug in the expected value and it will tell you how much of your money you should gamble to maximize your winnings over time. But it does that with more or less a 50-50 chance of you losing all your money. Because winning 10 dollars means a lot more to someone who makes minimum wage than a millionaire, you need to skew the formula to take that into account.
The easiest way to do that is to use the log-value of money, and rederive the kelly criterion based on that value instead.
From what I recall the math works out so that unless you have a substantial pile of money, the ideal number of lottery tickets is always between 0 and 1.
Also, you can get good grades and be a moron. My HS valedictorian was the dumbest person I have ever met. She could regurgitate information on a test, but didn’t understand a bit of it.
Last I checked she was hocking some MLM bullshit on Facebook.
So every time this abbreviation comes up I have to ask, are you talking about Multi-Level Marketing, Men Loving Men, Marxism-Leninism-Maoism or Muslim Lives Matter?
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