One method of unlearning is to visualize information and data in new ways. For too long, too many economists and statisticians have assumed that everyone appreciates rare numbers the same way they do. This isn’t true. Just take a look at the following visualizations of data which I pulled from IBM’s very useful Many Eyes [...]
A Flip of the Coin Doesn’t Alway Look Random
February 10, 2010 By Leave a Comment
Question: If you flip a coin 14 times which is more likely to occur: 1) The coin land on "heads" 14 straight times (HHHHHHHHHHHHHH); or 2) this random outcome: TTHTHHHTTHTHTT? The answer is that the odds of each occurring are precisely same — 1 in 16,384. And, yet, to most people the first outcome is viewed [...]
