The main character, Kevin, a college student at MIT, started to learn some techniques and tricks to win the casino from his friend Martinez. They want to calculate the possibility of winning, to decide if they should bet more money, or just minimize their loss. Mick, Martin, Fisher, and Kevin are in a team to win the casino, with a bunch of other friends that want to work behind the scene.
By Jordan Ellenberg
Page 59-Page 104
The results of an experiment tend to settle down to a fixed average when the experiment is repeated again and again. For example, if you flip 10 coins together, and count how many heads there were, it will be like 4,4,5,6,5,4,3,3…, but if you flip a hundred coins, the number will be 46,48,48,51,50…, and when you flip a thousand coins, the number will be 486, 401,489, 472,510… The larger amount of coins you flip, the more likely that the number of heads will be 50% of the number of coins you flip.
by Jordan Ellenberg to Page 59
The third chapter introduces linear regression, In statistics, linear regression is a linear approach to modeling the relationship between a scalar response and one or more explanatory variables. For example, research shows that if you can raise the average SAT score of your incoming first year by 50 points on average, you can charge $1400 more in tuition. This shows schools with a higher SAT score are likely to be pricier. But sometimes, it is not the case. That is when linear regression is used.
How Not to Be Wrong
How Not to Be Wrong is a book by Jordan Ellenberg. The book is about how math can solve real-world problems. For example, in the first chapter, it tells a story about Abraham Wald and the Missing Bullet Holes. It shows how Abraham Wald uses math to solve the ” Survivorship bias” and how mathematics is common sense. Even the process of proving is complicated, but the idea doesn’t require formulas.