Timeline for Why is statistics useful when many things that matter are one shot things?
Current License: CC BY-SA 3.0
8 events
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| Sep 8, 2012 at 6:17 | history | edited | Michael R. Chernick | CC BY-SA 3.0 |
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| Sep 7, 2012 at 22:44 | comment | added | Michael R. Chernick | @statskeptic I fyou saw my original post I apologize for my inital comments. They were rightfully edited out by a moderator. I think I misunderstood what you were trying to say. I hope we answered your question well and relieved some of your skepticism. | |
| Sep 7, 2012 at 22:19 | comment | added | statskeptic | Also, please don't think that I'm trying to flame your profession. There are computers that are doing computation statistically to save power, and I respect that. I'm just trying to learn how people with much more knowledge than me in statistics deal with these questions. | |
| Sep 7, 2012 at 22:17 | comment | added | Michael R. Chernick | They search for them and when they think they find one they throw him or her out of the casino no questions asked. | |
| Sep 7, 2012 at 22:16 | comment | added | Michael R. Chernick | Okay statskeptic so you are not confused. But why is it so hard to see how statistics improves your chance for success. Probability theory tells you the odds of winning games of chance. If you could use Thorpe's Beat the Dealer strategy in blackjack and you have a large bank of funds you can make a fortune in the long run. The MIT students proved it in Las Vegas even though the advantage in counting has been reduced by the use of mixing multiple decks. It is true. The casino knows that card counters are a threat. | |
| Sep 7, 2012 at 22:04 | history | edited | whuber♦ | CC BY-SA 3.0 |
Removed potentially offensive language
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| Sep 7, 2012 at 22:00 | comment | added | statskeptic | Don't get me wrong. I understand there is statistics in everything, even physics with quantum mechanics is all about probability, and there isn't enough atoms to do computation without statistics. I just want to find out how to deal with the randomness and uncertainty which can influence my (or other people's) life more than any actual statistic or distribution. | |
| Sep 7, 2012 at 21:47 | history | answered | Michael R. Chernick | CC BY-SA 3.0 |