The following pair of puzzles have been posted on our @salilstatistics twitter account, and provided here for website followers to enjoy. They are considered challenging nuances to classical probability problems (also instead of 2 pieces of a bar one can think of the context as 2 assets in a portfolio). While answering both in my head on the train tonight, both solutions will also be appended below after a couple days, once our online poll concludes.
A key understanding from these math puzzles here (receiving >100 facebook likes) is that while the counterintuitive answers to the average of both the Small-Large difference and the Small/Large ratio are rather dissimilar from one another, their σs instead are remarkably close (though of course still different). Enjoy!
In the meantime, also feel free to visit our Salil Statistics YouTube channel (seen by thousands across all media) or facebook page (already 15k followers). Both recently launched and updated with smaller, more regularly news than this website. Happy New Year!A bar of length 1 is randomly broken in 2 pieces (Small, Large); Small+Large=1.— Statistical Ideas (@salilstatistics) January 6, 2018
What is both the σ of the Small-Large difference, AND the σ of the Small/Large ratio?
cc @nntaleb
A key understanding from these math puzzles here (receiving >100 facebook likes) is that while the counterintuitive answers to the average of both the Small-Large difference and the Small/Large ratio are rather dissimilar from one another, their σs instead are remarkably close (though of course still different). Enjoy!
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