NOV 16, 2010 10:27am ET

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The Flaw of Averages – Part 2, Probability Management

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Editor's note: Read Part 1 of this blog here.

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Comments (2)
Hi Steve,

Excellent presentation of the key concepts.

I won't forget "The simulation of the sum equals the sum of the simulations."

If you're interested, I've put a proposal for DIST2 on my blog at http://www.goodplan.ca/2010/10/dist-2.html . If there's anything you can think of to improve it, please leave a comment.

Posted by Marc T | Wednesday, November 17 2010 at 2:26PM ET
Great compilation of various statistical sources. I would like to add an old Statistical Analysis: A Computer Oriented Approach by Afifi & Azen that might contradict to Steve's hypothesis greeted so much by previous commenter. I remember a furious discussion many years ago about the simulation of the sum vs sum of the simulation where I was trying to prove the opposite from the pure mathematical point of view. I was so happy several years after it to find out that I was right from the people who were using similar simulations every day.
Posted by David C | Thursday, November 18 2010 at 9:18AM ET
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