problem
The Wisdom of the Crowd
Who's closest to the correct number of sweets in a jar - an individual guess or the average of many individuals' guesses? Which average?
problem
Capture and recapture
How do scientists or mathematicians estimate the size of a population of wild animals?
problem
How Confident Are You?
What proportion of people make 90% confident guesses which actually contain the correct answer?
problem
Louis' Ice Cream Business
Should Louis go for the safer options, hoping to limit his losses, or would he be better off with a riskier strategy, focusing on maximising his profit?
problem
To insure or not to insure
Should you insure your mobile phone? It rather depends on whether you focus on the long-term pay-off or the effect of a single event.