Alexander White

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Almost 90% of the tickets for the drawing were held by Harvey’s team. They were standing in front of the money spigot, all alone. And when the drawing was over, Random Strategies had made $700,000 on their $1.4 million investment, a cool 50% profit. This trick wasn’t going to work twice. Once the lottery realized what had happened, they put an early-warning system in place to notify top management if it looked like one of the teams was trying to push the jackpot over the roll-down line single-handedly. When Random Strategies tried again in late December, the lottery was ready. On the morning ...more
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How Not to Be Wrong: The Power of Mathematical Thinking
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