Detecting a Slots Payout Difference of 2%

Most businesses use statistics and analytics to one degree or another, but there is only one industry that is built solely on this discipline.  This week we look at the casino business - in particular, the odds on slots. Slot machines are a casino’s best…

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Problem of the Week: A betting puzzle

QUESTION: A gambler playing against the “house” in a game like roulette or slots adopts the rule “Play until you win a certain amount, then stop.”  Will this ensure against player losses? What will be its effect on the house’s profit? ANSWER: Some look at this…

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Book Review: Big Data in Practice by Bernard Marr 

This short book is essentially an enriched list of 45 examples of how companies have used big data analytics.  Marr sticks to high level generalities, and the book is in the spirit of light business journalism rather than detailed expositions that walk you through a…

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Dec 6: Statistics in Practice

This week we look at the casino business - in particular, the odds on slots. In our course spotlight, we start looking at some of the great stuff starting in at the beginning of the new year. In January, you can get started with basic statistics or biostatistics,…

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Google Zooms Out on Microtargeting

Google recently announced that it would further limit its election ads to audience targeting based on age, gender, and general location (postal code level) context targeting (i.e. showing ads based on the content being viewed) Up to this point, the application of predictive modeling to…

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