Yah, failure to understand statistics is a big risk financially.
I remember a rich man interviewed on TV who said he got his start making money in high school by running gambling games. He understood statistics while the other kids did not, and although the game was fair, he cleaned up regularly.
Take a walk through a Vegas casino, and you'll see legions of people who do not understand statistics and pay a heavy price for that.
I remember a rich man interviewed on TV who said he got his start making money in high school by running gambling games. He understood statistics while the other kids did not, and although the game was fair, he cleaned up regularly.
Take a walk through a Vegas casino, and you'll see legions of people who do not understand statistics and pay a heavy price for that.