statistics – Sound Economics

March Madness Probabilities

Posted on March 25, 2017 by Alex Shaw — 1 Comment ↓

Every year during the NCAA Basketball National Championship, or March Madness, fans make bracket predictions and often make bets on them. Warren Buffet, the billionaire investor of Berkshire Hathaway, once offered one billion dollars for anyone who could predict a perfect bracket. But what exactly are the odds of predicting a perfect bracket? Buffet actually made one of the safest bets he could. First, let’s assume that each team has a 50% chance of winning any given game. The probability is calculated by simply taking the number of outcomes from a game, one team could win or the other team Continue reading March Madness Probabilities→

Surprising Statistics Among Voters in Support of Trade Agreements

Posted on September 23, 2016 by Lukie Crowley — No Comments ↓

The New York Times recently came out with an article outlining some interesting statistics about voters in the United States supporting trade agreements such as the Trans-Pacific Partnership (TPP). This is most interesting because both major-party candidates actually oppose the trade agreement that was established by President Obama. In the article, the NYT outlines that the point that Republicans tend to be pro-trade but since the Republican candidate Donald Trump is so anti-trade, the R’s are staunchly against these trade agreements. However, younger voters still strongly support trade agreements such as the TPP and overall voters polled either support trade Continue reading Surprising Statistics Among Voters in Support of Trade Agreements→