I don’t portray myself to be either a statistician or an actuary but I do have the (mis)fortune of having some idea about how probabilities and odds work and often in risk management you have to evaluate the likelihood of…
Lottery Risk Management
So what happens when you are part of an office lotto pool and win? And what happens when some folks don’t participate the one week the group buys the $50 million ticket? This is just what’s going on in a…