2. Power Law Distribution (Scale Free) This is a Classic and Very Important Distribution A power law is a special kind of mathematical relationship between two quantities. When the frequency of an event varies as a power of some attribute of that event (e.g. its size), the frequency is said to follow a power law.
14. Example: Coin Flip Nostradamus Predicting Coin Flips - Does you Friend Have the General Ability to Actually Predict Coin Flips? How Would You Evaluate This Proposition? How Many Predictions Would Your Friend Have to Get Right For You To Believe They Actually Have Real Ability?
17. Coin Flip Nostradamus: Binomial Distribution Here is the Formula for a binomial experiment consisting of n trials and results in x successes. If the probability of success on an individual trial is P, then the binomial probability is: b(x; n, P) = nCx * Px * (1 - P)n - x What is the Probability Coin Flip Nostradamus Predicts at least 3 of 4 Coin Tosses ?
25. Back To Coin Flip Nostradamus Predicts 43 out of 75 Correct Okay let say Our Coin Flip Nostradamus agrees to run 75 coins ﬂips in order to demonstrate his/her true powers Is this Sufﬁcient to Label Our Friend the Coin Flip Nostradamus?