Fans of #statistics, I have a fun problem / #puzzle for you (I've been trying it): suppose that you want to rise to the level of receiving a passive income such that you can honestly suggest that you earn pennies (>1) while you sleep. With a p of 0.1, how many pennies might you need to earn within a 24 period? I imagine that there's different ways of solving this.

Brandon Hall@bthall@scholar.socialLikely wrong Show more

I'm not sure, but given how I recently heard p-values explained, I think that if I know the p value required (I might have them mixed up, .9 or .1), the required outcome of a draw ($0.02), and the size of the distribution (number of seconds in a day, my unit), I can estimate this. It'd be [correct p value]*[seconds in a day]*0.02

#statistics #puzzles