My little betting odds piece seems to have attracted more attention than
I would have thought. (See Slate
article.)
Great minds searching for mathematical solecisms may have independently
focused on Safire's OpEd, but, contrary to Dan Seligman
(Slate piece again), I don't think Safire
is innumerate in the
least. Although I intended my piece to be somewhat whimsical, I wanted to
at least hint at three serious points: if Safire's assessment was an
estimate of probabilities (which it should have been since he is a pundit
and not a bookie), then the probabilities are wrong; even if, as is arguable,
he was writing as a bookie, the profit margin was excessive; and the
relationship between odds and probability can be misleading (especially
in medical and crime reporting).
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