KRamsauer
TreoCentral Staff

Registered: Apr 2002
Location: Houston, TX
Posts: 734 |
quote: Originally posted by Toby
It's not a bluff, and I'm not betting because it's a silly bet, and it also wouldn't mean anything no matter which of us won. It's like betting on a coin toss.
Then the expected payout is zero. Why wouldn't you want to take it? I'll give you $10 just for participating. There. If your hypothesis is correct, that it is simply random, you will come out ahead $10. However, I would be able to win far more than 1/3 of the bets and would therefore bleed you dry. See it isn't a coin toss because the older guy is much more likely to get heart disease.
quote: I'm not being difficult, and I think that you understand predictive statistics less than I do if you think they'll tell you anything about a specific case from a general number.[B]I don't need the money, so I have no desire to bet. Regardless, you're still not getting the point here. It would still be 2 out of 3 against you, though, even if you did manage to do it.
It wouldn't be 2 of three against me. You dont' understand the value of statistics, though. You're saying that predicitve statistics tell you *nothing* about a particular instance, which is simply incorrect. If you were to adjust the odds in our bet to reflect the likelihood of older men getting heart disease before younger girls, then it would be a gamble because the knowledge is factored into the bet. However, since you are giving the knowledge no predictive power, you insist the odds are still 1/3 of getting it right. That is simply not the case and in the long run you will lose and lose and lose.
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