"Thank You for not Understanding Statistics"

In light of our "Grand State" being upon the eve of the biggest payout for Mega Millions, I would like to tell you why teachers have trouble with the state funding education with the lottery. It has to do with the fact that we teachers like to teach think we teach logic, reasoning, and sound thinking... all of which would tell people that playing the lottery is a waste of money.

First, let me put into perspective the "9-billion dollars" the Texas Lottery has "given" to public education in over the last 10 years. According to a legislative document, during the 2002-2003 Bienium, the budget for education was $56.9 Billion (28.5 Billion annual). Other sources place the annual budget to as much as 33 Billion. I will use a conservative figure of 28 billion per year, and over 10 years, that would mean a total of at least 280 Billion dollars was spent on public education -- making the $9B "kicked in via quick-pick" at the very best only 3.2% of total revenue keeping the system running. Gee... they didn't mention that anywhere in that commercial did they?

But that's not really that important to the players... they want to win!!! So Let me share with you the chances of "winning" some things here in life:

1. Chance of winning Mega-Millions: 1 in 175,711,536.

2. Chance of dieing in a workplace accident: 1 in 2,000,000.
3. Chance of dieing in a fatal streetcar accident: 1 in 1,874,034.
4. Chance of dieing by the ignition or melting of nightwear: 1 in 1,249,356.
5. Chance of being struck by lightning: 1 in 700,000.
6. Chance of having breast cancer-- if you are male: 1 in 100,000.
7. Chance of dating a supermodel: 1 in 88,000.
8. Chance of dieing by drowning in your bathtub: 1 in 11,289.
9. Chance of finding a four-leaf clover on your first try: 1 in 10,000.
10. Chance of dieing through legal execution: 1 in 6,248.
11. Chance of finding out your child is a genius: 1 in 250.
12. Chance of getting hemorrhoids: 1 in 25.

Well, one last thing... the average Texas Lottery player spends 20-30 dollars a month playing the games of the Texas Lottery. So lets say you invest that $30 a month in a mutual fund earning an average of 12% annual return, between the ages of 20 and 65. At the end of the 45 years, you would have a little over $600,000.

So, I leave you to "figure" it out.... but not without saying.....

"Good Luck from The Texas Lottery."