A Quote by Dennis Lindley
The grand assertion is that you must see the world through probability and that probability is the only guide you need.
Related Quotes
Probability and expectation are not the same. Its probability and probability times the pay off.
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
It was our use of probability theory as logic that has enabled us to do so easily what was impossible for those who thought of probability as a physical phenomenon associated with "randomness". Quite the opposite; we have thought of probability distributions as carriers of information.
According to theism, if a universe is to have any probability of existing, this probability is dependent upon God's beliefs, desires and creative acts. But the Hartle-Hawking probability is not dependent on any supernatural considerations; Hartle and Hawking do not sum over anything supernatural in their path integral derivation of the probability amplitude.
Probability is the very guide of life.
But to us, probability is the very guide of life.
Probability is the guide of life, and of death, too.
The probability that we will get into a car accident is a million times higher than the probability we will suffer as a result of terrorist act.
The risk of an investment is described by both the probability and the potential amount of loss. The risk of an investment-the probability of an adverse outcome-is partly inherent in its very nature. A dollar spent on biotechnology research is a riskier investment than a dollar used to purchase utility equipment. The former has both a greater probability of loss and a greater percentage of the investment at stake.
The price of freedom is the probability of crime. The price of protection is the probability of slavery.
I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.
The issue, as correctly emphasized by Carl Sagan, is the probability of the evolution of high intelligence and an electronic civilization on an inhabited world. Once we have life (and almost surely it will be very different from life on Earth), what is the probability of its developing a lineage with high intelligence? On Earth, among millions of lineages of organisms and perhaps 50 billion speciation events, only one led to high intelligence; this makes me believe in its utter improbability.
A realistic definition of risk recognizes the potential loss of capital through inflation and taxes, and would include at least the following two factors: The probability that the investment you chose will preserve your capital over the time you intend to invest your funds. The probability the investments you select will outperform alternative investments for this period.
If you get rid of emotion for a minute and think about the threat of terrorism statistically, it's not even there. The probability that you will slip on a wet floor in your bathroom and die is a thousand times higher than the probability of you dying as a result of terrorism.
The probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an extremely tender-hearted person would get the job of whipping-master in a slave plantation.
A Resource-Based Economy is in the application of the methods of science with human concern and environmental concern. If we used the scientific method throughout the world, the probability of war drops to zero. The probability of human suffering disappears. Deprivation, poverty, crime - all those things tend to disappear because there's no basis. I'm strictly concerned with the environment that people are raised in and if that environment is altered, so will behaviors be altered.
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