Search found 10 matches

by bubblewhip
Tue Dec 20, 2011 5:10 am UTC
Forum: Individual XKCD Comic Threads
Topic: 0435: "Purity"
Replies: 649
Views: 199695

Re: 0435: "Purity"

As a student in university who moved from Engineering to Economics, I wanted to post my edited version of this spectrum.
Image
by bubblewhip
Tue Apr 19, 2011 3:32 am UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

Wouldn't it make more sense not to buy insurance? No. For all the reasons people have been pointing out to you since you started this thread. If you're going to keep ignoring or disregarding what people say to you, and if you're going to keep getting pissy when people who know far more than you abo...
by bubblewhip
Tue Apr 19, 2011 1:44 am UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

Okay so I acknowledge I am wrong about discrete vs continuous variables a bit an their relation to this subject. But can we please really get back to my original point, I feel like we've drifted from my original topic which is... If it was based on total objectivity and disconnected to the human emo...
by bubblewhip
Mon Apr 18, 2011 11:16 pm UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

The hell? Okay if you want me to clarify it, my professor, and other statistic's professors as well as my text book define continuous variables as a result that gives you a range, like temperature, mass, or speed. Discrete variables described as by all those before are results that give you a number...
by bubblewhip
Mon Apr 18, 2011 10:15 pm UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

In spite of its origin, you would do well to listen to this lecture . I disagree with the coin flip argument because it's not like that at all. Coin flips are discrete and insurance payments are continuous. And why is that distinction relevant? If you only say "There's a difference" witho...
by bubblewhip
Mon Apr 18, 2011 9:19 pm UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

I disagree with the coin flip argument because it's not like that at all. Coin flips are discrete and insurance payments are continuous. It's impossible to flip a coin and result in like a 75% heads vs 25% tails sorta fashion that's why we set data that has a result of yes vs no, or in this case hea...
by bubblewhip
Mon Apr 18, 2011 5:26 pm UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

Doesn't the Central limit theorem confirm that you can do a normal distribution calculation of the average and standard deviation and probability of where you land? I mean if you just took an unbiased guess of a life with no other information than that he is male and 16 years old in California, San...
by bubblewhip
Mon Apr 18, 2011 4:52 pm UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

Well through the normal curve I honestly can't imagine a kind of insurance where claims are normally distributed, though. (Well, the totals are for the insurers, because of the previously mentioned central limit theorem. But individual claims are never normally distributed.) Honestly, this looks mo...
by bubblewhip
Mon Apr 18, 2011 7:13 am UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

Re: If you learned statistics would you never buy insurance?

Well through the normal curve the 2.5% of the time represents you paying for something above 5500 on average, so actually 2.5% represents 5500.01 and onwards, and the chance of you paying more than that decreases as the more money is added on top of that. added another deviation then there is only a...
by bubblewhip
Mon Apr 18, 2011 3:43 am UTC
Forum: Mathematics
Topic: If you learned statistics would you never buy insurance?
Replies: 92
Views: 11003

If you learned statistics would you never buy insurance?

So I did an introductory statistic's class in collage and learned about means, averages, standard deviations, inner quartile ranges, and so on. There's a saying that if you learned about statistics you would never gamble, I took that and did a thought that if you learned about statistics you would n...

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