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Data36 Data Science Podcast

Tomi Mester

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Data36 Data Science Podcast
10 min2020 SEP 21
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In this podcast episode, I'll tell you why you shouldn't go to casinos. 


The house always wins. We all know this phrase. But this is more than a phrase. This is a simple, mathematically proven fact. And you'll only have to know three statistical concepts to see why the house always wins.  (These three statistical concepts come up often in data science projects, too. So if you are wondering why I’m talking about gambling on a data science channel, rest assured, you'll be able to take advantage of this knowledge in your data science career, too.) 


Anyways, three statistical concepts.


These are: 



  • Survivorship Bias

  • Expected Value

  • Hot-Hand Fallacy  


Youtube vid version: https://youtu.be/MkfPALtnDG8 


FUN GAME TO TEST YOURSELF:



  • https://bestbet.data36.com


LINKS MENTIONED IN THE EPISODE:



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Check my website: https://data36.com

Get access to more data science tutorials, join the inner circle: https://data36.com/inner-circle

Find me on Twitter: https://twitter.com/data36_com


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