In the book The Eudaemonic Pie, Thomas Bass described how Norman Packard used an oscilloscopeand a trig formula in this general activity to help start a scientific community.
In the book The Eudaemonic Pie, Thomas Bass described how Norman Packard used an oscilloscopeand a trig formula in this general activity to help start a scientific community. A strategy in this activityis the origin of the statistical term "martingale" and involved doubling a certain quantity and stoppingafter a finite time. A random variable with infinite expected value in this activity is the subject of theSt. Petersburg paradox. Claude Shannon and Edward Thorp's original application of the Kelly criterionwas to this activity. A fallacy named after a practitioner of this activity states that people incorrectlybelieve that an event is less likely to happen after it has happened X times. For 10 points, a specificinstance of what general type of activity is described in Bringing Down the House, an account of cardcounting?
In the book The Eudaemonic Pie, Thomas Bass described how Norman Packard used an oscilloscopeand a trig formula in this general activity to help start a scientific community.
gambling [or obvious equivalents, such as betting money or wagering money; anti-prompt on roulette]