I did agree with Geoff Akst's point that, although you are probably more
likely to die in a car accident than win a lottery, (my extension of his
thought) the lottery is still probably the most likely path to millions for
many.
And it s interesting that some people that won't accept $50 more
a year in taxes for better schools or roads or anything, will spend
$20 a WEEK to try to win a lottery.
There are many who spend at least $10 or more per week on average to
win a lottery. So I guess a good question is, how long would it take
to accumulate $1,000,000 this way, at say 4% interest. Of course this
is a straightforward annuity type problem (not that I have the
formula in front of me!) but most people don't understand the power of
persistent saving.
Certainly this whole issue is a ripe one for some of that critical
thinking stuff we talk about for our students.
By the way, I am proud to say that, using all of my mathematical skills, I
have NEVER lost in the lottery.
Phil Mahler
Middlesex CC
Bedford, MA