Hump-Day already. A short week.
So, I’ve been thinking. Is there anyone out there who understands statistics?
If I buy a ticket and have a one in one million chance of winning something, do I have twice as good a chance of winning if I buy two tickets? The apparent answer is yes, of course. Two chances are twice as good as one.
But is that really true? If my first one in a million ticket doesn’t win, my second ticket also only has a one in a million chance of winning…. Does that mean my odds, my chance of winning, didn’t increase by buying the second ticket?
Or can my chances be interpreted and explained either way by a talented statistician?
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