Understanding uncertainty: The many ways of spinning risk
Would you prefer a game with a 90% chance of winning, or one with a 10% chance of losing?
Would you prefer a game with a 90% chance of winning, or one with a 10% chance of losing?
This may seem like an odd question — after all, he’s won — but it opens up some deep philosophical issues surrounding probability. David Spiegelhalter investigates how probability can be defined.
Well, no-one knows exactly, but using stats you can make a good guess. This article tells you how and has an interactive life expectancy calculator. Do you dare to find out?
This is the second part of our new column on risk and uncertainty. David Spiegelhalter, Winton Professor for the Public Understanding of Risk at the University of Cambridge, continues examining league tables using the Premier League as an example. Find out just how much — or how little — these simple rankings can tell you.
League tables are controversial and for good reason. Few things are simple enough to be measured by a single outcome like, for example, the number of exam passes or successful heart operations. But even if we do accept a single yardstick, we haven't yet reckoned with chance, which by itself can produce apparent patterns to delight any tabloid editor.