How to outthink your competition -- with a lesson from sports | Rasmus Ankersen
TED Business
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A Gambler's Guide to Football Statistics
Newcastle United finished fifth in the Premier League this season. The team had a goal difference of plus five, compared to other top teams' minus one. This indicates what a gambler calls an extremely effective goal distribution. A good gambler has trained his brain to resist the human tendency to assume that good outcomes always mean that someone brilliantly acted. New Castle's fifth place is the equivalent of a public traded company having a very high share price and a low customer satisfaction at the same time.
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