7.500 Euro Loss
Hi,
Our intuition often plays tricks on us. Especially in statistics.
Humans are not made to intuitively understand statistical relationships.
For example, the Birthday Paradox .
What do you think? What’s the probability that in a room with 23 people, two have the same birthday? 5%? 10%? 20%?
…
Wrong.
The probability is 50%. If you look at two classrooms, statistically, one class will have a shared birthday.
In a room with 50 people, the probability is even over 97%.