birthday paradox

Finance and Economics 3239 07/07/2023 1060 Emma

Birthday paradox The birthday paradox, also known as the birthday problem, is a probability phenomenon which states that in a group of randomly chosen individuals, the probability of two or more of them having the same birthday is actually quite high. The chance is more than 50% when the number of......

Birthday paradox

The birthday paradox, also known as the birthday problem, is a probability phenomenon which states that in a group of randomly chosen individuals, the probability of two or more of them having the same birthday is actually quite high. The chance is more than 50% when the number of people reaches 23.

The birthday paradox is not a true paradox: It gives an unexpected result — one that goes against our intuition. Its an example of a non-intuitive result which can arise from using statistics to calculate probability.

Though it appears counterintuitive, you might find it to be surprisingly accurate. The idea is that when you have a larger group of people, the chances that two people have the same birthday are quite high.

To explain this concept, lets break it down into two parts: the probability of two people having the same birthday, and the number of people required to reach a certain probability.

When two people are in a room, they have a 1/365 chance (or 0.27%) of having the same birthday. Thats because there are 365 total days in a year, so the chances of any two people picking the same day is 1/365.

Now, if we add a third person to the room, the probability of two of them having the same birthday goes up significantly. At this point we have three possibilities: two of them could have the same birthday, all three could have the same birthday, or none of them could have the same birthday. So the chances of two of them having the same birthday become 3/365 (or 0.82%).

As more people are added to the group, the probability of two people having the same birthday increases exponentially. When you get to 23 people in a room, the probability of two or more of them having the same birthday is 50.73%.

So why does the probability increase so rapidly? Its because the number of possible unique combinations (of birthdays) increases. For example, in a group of three people, there are three possible unique combinations: one person with a different birthday from the other two, two people with the same birthday and different from the third, and three people with different birthdays. In a group of 23 people, the number of possible combinations is 253, so the chances of two or more people having the same birthday is much higher than in a smaller group.

Its interesting to note that the probability of two people having the same birthday never reaches 100%. Its not possible for every combination of birthdays to be unique, but it is possible for every single person to have a different birthday.

The birthday paradox can be used as an example of how statistics can be used to calculate probability and how our intuition can be wrong. Its a counterintuitive result, and yet it turns out to be true. Knowing the birthday paradox can help us understand the power of statistics and avoid making decisions based solely on intuition or conventional wisdom.

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Finance and Economics 3239 2023-07-07 1060 Serenade Meadows

The Birthday Paradox The birthday paradox is a paradox that deals with probabilities. It states that in a group of at least 23 randomly selected people, there is a 50% chance that at least two people will have the same birthday. To explain this, first consider the chances of two people having the......

The Birthday Paradox

The birthday paradox is a paradox that deals with probabilities. It states that in a group of at least 23 randomly selected people, there is a 50% chance that at least two people will have the same birthday. To explain this, first consider the chances of two people having the same birthday in an isolated pair of people. In a group of just two people, the likelihood of both people having the same birthday is only 1/365 (1/366 for leap years).

Now consider a group of 23 people, the probability of a shared birthday is much higher. When calculating the probability, it is important to remember that the two people do not have to share the exact same birthday, just a birthday in the same month and year. According to the formula, the probability of two people sharing a birthday in a group of 23 is more than 50%.

This is because the number of pairs in the group is 253. Since each pair has two people, the combined probability of all pairs having the same birthday is 253/ 365 (or 366 for leap years). This calculation is more complicated when the group has an unequal amount of people with the same birthdays, but the probability increases significantly.

The birthday paradox can be extended to larger groups. A group of 70 people has a 99.9% chance of sharing at least one birthday and a group of 367 people will definitely have at least two people with the same birthdays.

The birthday paradox is a surprising phenomenon that can have far-reaching implications when applied to other topics. For example, when applied to birthdays and time frames, it can be used to analyze statistics about trends or events that happen in the same month or year.

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