Anscombe’s Quartet – the importance of graphs!

Anscombe's Quartet - the importance of graphs! Anscombe's Quartet was devised by the statistician Francis Anscombe to illustrate how important it was to not just rely on statistical measures when analyzing data.  To do this he created 4 data sets which would produce nearly identical statistical measures.  The scatter graphs above generated by the Python... Continue Reading →

Martingale II and Currency Trading

Martingale II and Currency Trading We can use computer coding to explore game strategies and also to help understand the underlying probability distribution functions.   Let's start with a simple game where we toss a coin 4 times, stake 1 counter each toss and always call heads.  This would give us a binomial distribution with... Continue Reading →

Modelling Radioactive Decay

Modelling Radioactive decay We can model radioactive decay of atoms using the following equation: N(t) = N0 e-λt Where: N0: is the initial quantity of the element λ: is the radioactive decay constant t: is time N(t): is the quantity of the element remaining after time t. So, for Carbon-14 which has a half life of... Continue Reading →

Modeling Volcanoes – When will they erupt?

Modeling Volcanoes - When will they erupt? A recent post by the excellent Maths Careers website looked at how we can model volcanic eruptions mathematically. This is an important branch of mathematics - which looks to assign risk to events and these methods are very important to statisticians and insurers. Given that large-scale volcanic eruptions... Continue Reading →

Are you Psychic?

Are you Psychic? There have been people claiming to have paranormal powers for thousands of years.  However, scientifically we can say that as yet we still have no convincing proof that any paranormal abilities exist.  We can show this using some mathematical tests - such as the binomial or normal distribution. ESP Test  You can... Continue Reading →

Why Do England Always Lose on Penalties?

Statistics to win penalty shoot-outs With the World Cup nearly upon us we can look forward to another heroic defeat on penalties by England. England are in fact the worst country of any of the major footballing nations at taking penalties, having won only 1 out of 7 shoot-outs at the Euros and World Cup.... Continue Reading →

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