Tuesday, 10 June 2008

The Birthday Paradox And Risk Evaluation for Your Business (2)

3) the connection of possible number of pairs.
(364/365) ^ 253? 0.4995 or 49.95% of chance to take all possible measures within the peer group have different birthdays.

4) It therefore concludes that this was a group of 23 people, there is 50.05% probability of having a pair born on the same date.

As demonstrated, it takes only 23 people or events exclusive to something formally considered "highly unlikely" to transpire. This suggests that business operators could adopt a more rigorous mathematical and risk management.

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