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Understanding Random Events: Producing Models Using Probability and Simulation

  • Douglas A. Wolfe
  • Grant Schneider
Chapter
Part of the Springer Texts in Statistics book series (STS)

Abstract

There are few things in life of which we are absolutely certain. Not knowing what is going to happen or how someone or something is going to react in a particular situation is what keeps life interesting. Let’s take a moment to think about some of the things you do on a daily basis and list the events that have some chance or uncertainty associated with them. How do you wake up in the morning? Many people rely on an alarm clock, but what if the electricity is out or your alarm clock malfunctions or you forgot to set the alarm the night before? What are you going to wear? Usually you make this decision based on the weather forecast. Will it be warm or cold? Will it rain or not? Many of us have daily appointments and meetings that we must attend. Will you make it to your lunch meeting on time? Will this be one of those days filled with unforeseen problems? And after a long day at school or the office, will your team win the soccer game tonight? What other events can you think of that involve uncertainty?

Supplementary material

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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Douglas A. Wolfe
    • 1
  • Grant Schneider
    • 2
  1. 1.Department of StatisticsThe Ohio State UniversityColumbusUSA
  2. 2.Upstart NetworkSan CarlosUSA

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