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.
– Peter Bruce,
Chief Academic Officer, Author, Instructor, and Founder
The Institute for Statistics Education at Statistics.com
Slots
Detecting a Slots Payout Difference of 2%
Playing slot machines, gamblers can typically expect to win back 85% – 95% of their money. How long would a person have to play to distinguish between a 93% return and a 95% return? […]
Of Note
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 “microtarget” individuals or small groups of individuals, well-entrenched in the digital marketing sphere, had […]
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 […]
Problem of the Week
Gambling 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?
1 Take Statistics.com courses and transfer credit to Thomas Edison State University (TESU) via ACE Credit 2 In partnership with TESU, apply directly to TESU
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Digital Badges
Digital badges provide employers and peers concrete evidence of what you have learned and the skills required to earn your credential. Each badge’s digital image holds verified metadata describing your qualifications and the mastery required to earn them. […]
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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.
