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Validation Of A Lottery, Xiaona Zhou
Validation Of A Lottery, Xiaona Zhou
Publications and Research
The NY Pick 4 lottery consists of four "randomly" chosen digits from 0 to 9. For this to be fair, each digit should be equally likely to occur. To determine whether this is the case, a Chi-squared goodness of fit test will be applied to historical data. This provides a quantitative way of measuring how well the observed frequency of digits matches our expectations of a fair lottery. We also explore the "Lucky Sum", which is also a part of the Pick 4. We determine which sum is most likely to occur, and what the odds of winning are if …
Validation Of A Lottery, Xiaona Zhou
Validation Of A Lottery, Xiaona Zhou
Publications and Research
The NY Pick 4 lottery consists of four "randomly" chosen digits from 0 to 9. For this to be fair, each digit should be equally likely to occur. To determine whether this is the case, a Chi-squared goodness of fit test will be applied to historical data. This provides a quantitative way of measuring how well the observed frequency of digits matches our expectations of a fair lottery. The Chi-squared distribution gives us a number beyond which we reject fairness. However, there is another possibility. If the difference between the fair model and the observed frequency is too small, that …