Understanding Moments

Think of it this way. In a bell curve type of situation, like displaying the distribution of height or weight in a human population, there are outliers on the spectrum of possibility, but the outliers have a fairly well-defined scope. You’ll never meet a man who is ten times the size of an average man. But in a curve with fat tails, like wealth, th

What matters is that you understand the conceptual basis for what we’ve done: defining a metric, then parallel transport and geodesics, then curvature.

There are three important aspects of probability that we need to explain so you can integrate them into your thinking to get into the ballpark and improve your chances of catching the ball: Bayesian thinking Fat-tailed curves Asymmetries

How do you make sense of an “average” of a system that will be different every time you run it? Well, you could fix the period of time the system runs for and take the limit of where individual variables get to, as attained by running the system over and over and over to infinity. Or, you could fix the number of systems (preferably at “one” for min

A key aspect of thinking quantitatively is understanding the laws of probability and randomness.