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could be used to analyze the distribution of bombs. The Poisson distribution expresses the probability of a number of events occurring in a fixed period of time, area, or volume if these events occur with a known average rate. The only thing we have to know to specify the Poisson
Thomas H. Davenport • Keeping Up with the Quants: Your Guide to Understanding and Using Analytics
"“Human nature likes order,” wrote the economist Burton Malkiel in his seminal book A Random Walk Down Wall Street. “People find it hard to accept the notion of randomness.”" (Justin Gregg, If Nietzsche Were a Narwhal)
modern book by a consulting statistician on the same topic is Common Errors in Statistics and How to Avoid Them by Phillip Good and James Hardin.
Thomas H. Davenport • Keeping Up with the Quants: Your Guide to Understanding and Using Analytics
probability as a guardian of common sense and merely repair its computational deficiencies.
Dana Mackenzie • The Book of Why: The New Science of Cause and Effect
Venkatesh Rao • Don’t Surround Yourself With Smarter People
Galton was, in essence, able to establish some of the practical consequences of Mendelian genetics without the benefit of knowing any genetics, nearly two decades before Mendel’s work was rediscovered.
Stephen M. Stigler • The Seven Pillars of Statistical Wisdom
Common statistical method is based on the steady augmentation of the confidence level, in nonlinear proportion to the number of observations. That is, for an n times increase in the sample size, we increase our knowledge by the square root of n. Suppose I am drawing from an urn containing red and black balls. My confidence level about the relative
... See moreNassim Nicholas Taleb • Incerto 4-Book Bundle
The common element was randomness, Chaitin suddenly thought. Shannon linked randomness, perversely, to information. Physicists had found randomness inside the atom—the kind of randomness that Einstein deplored by complaining about God and dice. All these heroes of science were talking about or around randomness.