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RealdeTayopa said:As a successful statistician, you, xu, ap and Carls etc must be very rich by having used it successfully to build up your stock portfolios? Also are now barred from the gambling Casinos because of your infallable successes based upon probabilities??
Troical Tramp
Well I haven't got into stock analysis yet, never been one of my things. I prefer real estate, but I'll get into stocls at some point for sure. As for casinos, there's no point. The only game I can think of that doesn't have a house advantage is poker as you're playing the rest of the table while the casino only takes a rake to host the game, and parimutuel betting. Everything else though has long been analyzed by thousands of mathematicians and statisticians to ensure that in the long run, casinos will always come up ahead. For everyone who has come out of the casino a winner, there's way more who have lost. If you keep going, it's mathematical certainty that you will come up losing in the end because of the house advantage. There's ways to negate the advantage, like the MIT black jack group who got caught, but they're all considered cheating by the casinos.