Why You Shouldn't Go to Casinos... (3 Statistical Concepts)

Data36 Data Science Podcast

Tomi Mester에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Tomi Mester 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

3+ y ago 10:47

M4A•에피소드 홈

In this podcast episode, I'll tell you why you shouldn't go to casinos.

The house always wins. We all know this phrase. But this is more than a phrase. This is a simple, mathematically proven fact. And you'll only have to know three statistical concepts to see why the house always wins. (These three statistical concepts come up often in data science projects, too. So if you are wondering why I’m talking about gambling on a data science channel, rest assured, you'll be able to take advantage of this knowledge in your data science career, too.)

Anyways, three statistical concepts.

These are:

Survivorship Bias
Expected Value
Hot-Hand Fallacy

Youtube vid version: https://youtu.be/MkfPALtnDG8

FUN GAME TO TEST YOURSELF:

https://bestbet.data36.com

LINKS MENTIONED IN THE EPISODE:

Expected Value Formula + Calculations: https://data36.com/expected-value-formula/
Statistical Bias Types: https://data36.com/statistical-bias-types-explained/
Newsletter: https://data36.com/newsletter
Free mini-course: https://data36.com/how-to-become-a-data-scientist/

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Check my website: https://data36.com
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