Louis Evans
Faculty Sponsor: Shyam Gouri Suresh
Estimations are made for the explanatory power of critical consumer wealth distribution factors towards the monetary values of Powerball Lottery Ticket Sales, using State-level panel Data for 42 States between the years of 2011 and 2015 (inclusive). Further analysis of income elasticity is undergone to help explain previous findings of higher consumption for consumers among lower income brackets. Results provide evidence to suggest that changes in Powerball Lottery ticket sales are linked to fluctuations in State-aggregated median household income and unemployment rates and income brackets for the range specified do have a significant effect. Other control factors are tested in concurrence and in separation to the critical variables, ultimately being accepted as valid indicators of State Powerball Ticket Sales.
