September 29, 2010

Could this sum happen by chance?

How the observed value compares with real history and with fair, independent random draws.

Draw sum

215

Within real history

14.8%

of historical values were ≥ observed

In simulated random history

18.3%

of 2000 simulated histories (seed 20260601)

A sum this high is within the range you'd expect from chance alone. Historical frequency does not change the odds of any future draw.

Past frequency never changes the odds of a future draw — this only describes how remarkable the observation is.