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Timothy

Posted By: Bill Phipps
Date: Saturday, 30 June 2012, at 2:15 a.m.

In Response To: Timothy (Matt Cohn-Geier)

If Stick were to play a 0.0, everyone would be convinced that he was cheating. However, we would still have the same relationship between the data and the hypothesis that we have now.

I want to pose a question. Imagine you are walking through a casino, when you see a roulette wheel with several people around it. The screen for the wheel indicates that the last 9 numbers were all 17. The pit boss is huddled with a manager to decide whether to shut down the wheel. Ultimately, they decide to let it spin a few more times. The question is, do you bet on 17 now and if so, why?

Certainly while I was strolling through the casino I had no hypothesis that the wheel may be biased. How is this situation unlike the Stick data we are examining?

Would you bet on 17 if only 2 spins in a row had hit ? 3? 4? How do we quantify our decision making here?

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