How can gambling systems be considered unreliable methods for decision-making?

[woundedtiger4]

Hi all,

I have attached a file in which at last page in example 7.8 I am stuck. I don't understand that how the author has calculated the Q(0.9)=.88 by using equation 7.31, can someone please show me the calculation process?

Thanks in advance.

 

[chiro]

Hey woundedtiger4.

Is the Q function the quantile function?

 

[Bacle2]

It would be helpful to know what Wn, F, etc. , stand for. If you have a notational index, please include it if possible.

 

[woundedtiger4]

It would be helpful to know what Wn, F, etc. , stand for. If you have a notational index, please include it if possible.

Thanks to everyone for being so much helpful, W_n is the (amount) wager to place on nth bet.
W_n = f_n{X_1, X_2, X_3,...X_n-1}

I have managed to calculate Q(.9)=.88 by using the first formula on on first page.

Once again many thanks to all of you who showed interest.

 

[blue_raver22]

Hello,

I would like to point out that using a gambling system, such as the one described in the attached file, is not a reliable or scientific way to make decisions. Gambling is based on chance and luck, not on scientific principles or calculations.

Furthermore, the calculation of Q(0.9) in example 7.8 is not a scientific calculation. It is simply using the equation provided by the author, which may not necessarily be accurate or valid. It is important to critically evaluate the sources and methods used in any type of analysis or decision-making process.

In order to make sound and scientifically-backed decisions, it is important to gather and analyze data, use established statistical methods, and consider all potential variables and factors. Relying on a gambling system or a single equation is not a reliable approach.

I would recommend seeking out more reliable and scientifically-based methods for making decisions, rather than relying on gambling systems.