Insight Things

A scientific blog revealing the hidden links which shape our world

Tag: statistics (page 2 of 2)

Pace the Parking Space

Are you also annoyed when it comes to parking your car? I asked myself, whether marked parking spots are rather hurdles than helpers, and wrote this article 🙂 The goal is to investigate what’s better: Marked or unmarked parking space? more →

Double Stakes – Roulette with Martingale

Back in 2010, I visited a casino for the first time with some of my friends. I suggested to try a roulette strategy which I heard about earlier. It advices to “double stakes”. We earned almost 30 bucks within an hour. Let me explain what we did! more →

Why you can multiply means and expected values

Maybe you had to multiply means or expected values already. If you know, for instance, how often people go shopping on average and how much money they spent on their shopping tours on average then you could multiply both to obtain the average amount spent. In this post I will explain why multiplying means and expected values is a valid operation. more →

Why you can add means and expected values

In applied statistics you often have to combine data from different samples or distributions. One of the most frequently used operation here is to add means and expected values. For instance, you could sample people’s leg length, body and head height. The result when adding these means? It is the average body height, I hope! more →

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