Wednesday, April 27, 2011

What are the chances?

Now that we got a foothold in algebra, we can dive into probability.
There are these people called actuaries, they mostly work for insurance companies and are about as close as you can get to real fortune tellers. They are paid about 80,000 USD just to start. They are able to calculate how likely something bad is going to happen to you and based from those calculations your premiums will be figured out.
Now while the math involved in that job is a far cry from what youre about to learn, they had to take this same exact lesson.

http://www.khanacademy.org/v/probability--part-1?p=Probability
Posted by at

36 comments:

  1. fit4lifeApril 27, 2011 at 6:40 AM

    so, fortune tellers are just high class mathematicians?

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  2. freightblogApril 27, 2011 at 6:43 AM

    i will have a look

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  3. LuxApril 27, 2011 at 6:45 AM

    Thanks man, will check out your video!

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  4. LegnoxApril 27, 2011 at 6:55 AM

    That is pretty damn awesome :D

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  5. Lucky13April 27, 2011 at 6:57 AM

    Oh, this brings back memories of the days in my stats courses at the university,

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  6. Come At Me BroApril 27, 2011 at 8:05 AM

    This is great!

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  7. nickxdesuApril 27, 2011 at 8:07 AM

    @fit4life - And all mathematicians can tell the future.

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  8. XatanaApril 27, 2011 at 8:09 AM

    I hate probability

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  9. AmbiApril 27, 2011 at 9:46 AM

    Man, i hated probability in math class... thanks for the refresh anyway :)

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  10. ShaawtApril 27, 2011 at 10:49 AM

    I'm the worst at probability :(

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  11. KetomasterApril 27, 2011 at 10:54 AM

    My brother's an actuary, but I can barely do stats. Can't get a hold of the "wellll yes those answers could be correct" idea when working with math.

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  12. ablaz3dApril 27, 2011 at 11:41 AM

    Sounds like something out of minority report

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  13. McClaneApril 27, 2011 at 12:12 PM

    I remember having a hard time in college with probability and math... those people must be really good to work at that.

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  14. RonaldApril 27, 2011 at 12:13 PM

    wow thats something

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  15. LaserDollarsApril 27, 2011 at 12:20 PM

    Nice job man!

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  16. AnonymousApril 27, 2011 at 12:24 PM

    Hmm intesting stuff, never really had this problem though :P
    Great post, followed!

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  17. ReMsApril 27, 2011 at 12:31 PM

    Never heard of them ^^ maybe i could do it too :P

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  18. FrogoeApril 27, 2011 at 1:12 PM

    Wow, that's actually a pretty sweet job!

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  19. PaulApril 27, 2011 at 1:27 PM

    Thanks for this link

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  20. JaxterApril 27, 2011 at 1:43 PM

    Usually math would be pretty boring for me but you are beginning to change that.

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  21. GetItFirstApril 27, 2011 at 2:06 PM

    very interessting stuff you have here..
    followed

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  22. UnknownApril 27, 2011 at 2:41 PM

    I suck at math. Need to study more. Followed

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  23. Jay ReidApril 27, 2011 at 2:58 PM

    I remember seeing a film about an actuary, I'm sure it was a comedy.

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  24. K.V.RApril 27, 2011 at 3:02 PM

    I'm stuck behind a bit, i'll catch up :(

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  25. pc_builderApril 27, 2011 at 3:43 PM

    This is actually pretty cool

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  26. JakeApril 27, 2011 at 4:32 PM

    Insurane companies...pretty messed up.

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  27. WesApril 27, 2011 at 5:40 PM

    love math. look forward to seeing more

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  28. AkioApril 27, 2011 at 5:45 PM

    I find AP Calc and Stat hard enough. =/

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  29. PaulApril 27, 2011 at 6:27 PM

    i love probability, as long as its not trig im happy =p

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  30. RockinruleApril 27, 2011 at 7:07 PM

    preposterous. i cant believe people make money on suspicion too.

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  31. RemiApril 27, 2011 at 7:28 PM

    I remember this. It's relatively an easy concept, but it has more applications than you think. Probability is used for me in MMORPGs and other computer games, not to mention gambling and such.

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  32. Tatiana BoinaisApril 27, 2011 at 7:29 PM

    im terrible at math in general but thanks for the info! might come in handy in my calc class :)

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  33. Mike YurchenkoApril 27, 2011 at 7:46 PM

    thanks for information!

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  34. DFPApril 28, 2011 at 12:03 AM

    I was pretty bad at probability in Uni.

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  35. crispykazzaApril 28, 2011 at 8:44 PM

    Why didn't I choose this as a career?

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  36. KontingencyApril 29, 2011 at 9:25 PM

    this might save me in my current math class. thanks

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