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A comment on I am a statistician and I buy lottery tickets. Parent comment

Re:I am a statistician and I buy lottery tickets by aes256 on Saturday October 20, 2012 @06:44AM (#4676794)
Indeed. Also, most people are risk averse, so they are happy to purchase insurance with an EV (expected value) equal to less than the premium simply to avoid the gamble.
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Re:I am a statistician and I buy lottery tickets by Evbn on Saturday October 20, 2012 @03:40PM (#4678034)
Not indeed. Variance matters. Look at the hedge fund industry.

Expected return is insufficient if you can't recover from death to regress to the mean. So yeah, zombies shouldn't buy insurance

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