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"This crisis is not a black swan event - a random outcome from a random distribution.
The way he had of preparing the composition, setting the framework and setting all the components in motion, the random outcome of the I Ching enabled him to see the opportunities in the materials he had set in motion".
Clive Black, a retail analyst at Shore Capital, an investment banking company in London, said that Ikea's announcement was "another left-field random outcome of the whole situation.
This is not some accidental, random outcome.
Because if we lived in a totally random universe with random outcome, then math formulas would never produce the same results every time.
For example, though the data showed that a mutual fund manager's past year's performance had no value in predicting next year's performance (the definition of a random outcome), they still credited themselves with acumen rather than luck after a good year.
Similar(38)
"We have data on such a diverse range of gaming patterns, and by their very nature we're also dealing with random outcomes - slot machines, roulette tables and the like - so working out what people are likely to do next gets very difficult.
Random outcomes in real life can be modeled in equation systems by the use of stochastic differential equations too.
The locations of failed bolt can significantly affect the stress analysis and its random outcomes require an efficient calculation scheme.
We study the "irrational" behavior of human preference over random outcomes, modeled by distorting the probability of the events.
This view entails that random sampling, and random outcomes in chaotic dynamics, and random mating in population genetics, etc., are not in fact random, despite the plausibility of their being so.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com