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Showing posts with the label normal distribution

Just my thoughts #0558

One of the misconceptions people have is that they believe they ‘buy (get)’ things with money. However, in reality, it is an exchange of money for goods. You might question whether these two concepts are similar, but there is a significant difference between them. In other words, it leads people to forget that money is also a ‘good’ whose value fluctuates based on the amount available in the market. This creates an overconfidence in money. In terms of value, money is only as valuable as its role and mission in exchange. If the role of food is to ‘eat,’ then the role and mission of money is that it is endowed with ‘the power to exchange anything.’ If money can’t be exchanged for food, can you eat money instead of food? The standard that allows goods to exchange roles and missions with each other is called ‘price.’ - Joseph’s “just my thoughts”

Just my thoughts #0116

We often play ladder games when betting. If you want to win, you can choose the option as far as possible from the marked “tagger”. If the “tagger” is displayed on the middle option, the most likely chance of not getting caught is when selecting the option at both ends. If you have a tag on one end, you can avoid the tag by choosing the other side end option. This is because the probability of winning a ladder game follows the “normal distribution” model. - Joseph’s “just my thoughts”