Statistics in Action Case: Managing Financial Risk
Financial markets can feel overwhelming. Markets offer so many choices with different promises. How can you make sense of it all and come away feeling that you’ve made good choices? The right place to start is by understanding the role of random variation. Luck and chance play a large role in deciding which investment wins and which investment loses. This case uses a simulation with dice to follow the performance of several investments. Even though the roll of a die offers only six outcomes, dice provide enough randomness ...
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