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So in the case of the investment, we expect to find 68% of the returns within $50 (one standard deviation) of the mean of $100.
We expect to find 95% of the returns within $100 of the mean (within two standard deviations -- that is, between $0 and $200).
And we expect to find almost all (99.7%) of the returns within three standard deviations (-$50 to $250).
From these values (and using the symmetry of the normal distribution) we can find other probabilities or percents. For example, since 50% of the returns come to the left of $100, and since 47.5% are greater than or equal to $0, we know that 2.5% of the returns will be negative -- that is, losses.
And since we expect to see some surprisingly large values, we expect a fat-tailed distribution.
Both of those value occur in the band labelled with 34.
Some of you found the median bin -- but we decide what bins to use. The median measures something fundamental about the data, not about our arbitrary choices....
Google Drive's logo should look familiar -- I bumped into it last night:
what is it? and the critics, again....
Eternity is tied up with the concept of infinity, frequently.
About another Newton (other than Sir Isaac): John Newton 1725-1807; ironically Newton was a slave trader (who ultimately saw the error of his ways).
Strogatz says that his objective is to "give you a glimpse of this paradise." (p. 253)
and if the
sets are finite, the proper subset is always
smaller....
but if the set is infinite, we may actually be able to
throw away elements of a set and not change the size of
the set!
There are infinitely many sizes of infinity. It turns out that the power set of a set is always of larger cardinality than the set itself. Thus every infinite set is smaller than its power set, which is an infinite set, which is smaller than its power set, etc....