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BGonline.org Forums
SHG dice
Posted By: Chuck Bower In Response To: SHG dice (W Womack)
Date: Saturday, 20 August 2011, at 1:32 p.m.
You guys are doing a great (and probably nearly thankless) job analyzing all of this. Kudos.
I am not sure that there is a statistical norm for the size of the luck factor, so it makes coming up with a conclusion about this more difficult.
This may be the biggest human misconception when it comes to drawing conclusions of random processes. Without answering this question first, reaching a final answer is near meaningless.
I think it would be pretty cool (but probably branded 'nerdy') to have a contest where contestants were to use their intuition to decide if presented situations deserve a skeptical eye, say using 2 s.d. (or 95% confidence) as a crossover point. I suspect the only criterion which sets apart winners from losers (multiple meanings here :) in such a contest are the time spent studying random processes. The intuition people are born with seems to be pretty worthless, and, IMO, the education system I'm familiar with doesn't help rectify that.
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