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Do we know of the heart of probabillity!

Started by Ralph, Apr 29, 09:57 AM 2013

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Ralph

Dialogue roulette probability

Mary Martingale and Henry Pivot.

M: We know the probability for red at NOZ is 50%.

H: We have a theory and it is confirmed in long
   tests, we really do not know if every single spin has the same probability, we know it is on average 50%. Nobody knows if some spins has 100% to hit and some 0% and in between, we know it is on average 50%. No math can prove it is 50% on every spin, it is found from a fallacy, and layman common sense, which has been adopted by skilled math guys.


M: You see that can not be true a fair coin not has 50% probability for show tail.

H: In the longer run it is close to that, and the research use a long sample. They know only that a fair coin will show tail about 50% of the trials.
Nobody knows about the internal distributions, some trials may have 100% to be tail and some heads, some may have 0% chance, we only know from longer trials and assume it is 50% in every, it may be only something average.
The best way to fail, is not to try!

Turner

I believe maths has no use for any casino game due to the minute timescale we sit in the game for where variance is seen most. A full day on one table is a drop in the ocean of ten million spins....after which maths is king.
I cant help noticing the similarities with how the world of the small (quantum physics) and the world of the big (newtonian physics) act differently even though they are part of the same thing.

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