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On the Bean Machine
By Dr. David Edward Marcinko MBA
http://www.CertifiedMedicalPlanner.org
I’ve taught health economics and finance classes at the under-graduate, MBA and graduate school levels. All students were aware of basic statistics and the ‘”normal distribution curve.” A few were even aware of the term “bean machine”; but I have never known a student who was familiar with the term “Galton Board.”
DEFINTION:
The bean machine, also known as the Galton Board or quincunx, is a device invented by Sir Francis Galtonto demonstrate the central limit theorem, in particular that the normal distribution is approximate to the binomial distribution. Among its applications, it afforded insight into regression to the mean or “regression to mediocrity”.
MORE:
Assessment
So, a picture or video is worth a thousand words; as they say.
Link: https://www.youtube.com/watch?v=6YDHBFVIvIs
Conclusion
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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/
Contact: MarcinkoAdvisors@msn.com
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Filed under: Risk Management, Touring with Marcinko | Tagged: Bean Machine, bell curve, central limit theory, Galton Board, normal distribution curve | 2 Comments »
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