Hang on. All we know is that the father is more intelligent than OP. And that he can’t understand the maths his farther teachers.
Perhaps OP is just real dumb and his farther is a high school teacher.
Teaching math at university
“Maybe he’s teaching in high school”
What
Could be but I promise you, smart people can 100% be stupid too: Everyone does dumb shit sometimes.
smart people can 100% be stupid too
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.
If he’s only teaching maths, he’s not that clever either
You can’t win if you don’t play.
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.
The only time this happens are either scratch off tickets that are horribly broken or rolling-jackpot lotteries where you can win what other people put in before you.
Even if the math works out that the lottery would be EV+, you still can’t know for sure it isn’t crooked
Just bear in mind that the utility of money is nonlinear, so Kelly will overextend you - use something like max log-value and rederive.
I’m too stupid to piece together what this means, but I’m interested.
Kelly is a betting stake formula? But deriative of max log-value will provide a better result?
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.
i got you, watch this for understanding of kelly criterion
Someone can be smart and still think things are fun that you don’t think are fun.