Statistics
Daniel Bernoulli was also the author in 1738 of Specimen theoriae novae de mensura sortis (Exposition of a New Theory on the Measurement of Risk), in which the St. Petersburg paradox was the base of the economic theory of risk aversion, risk premium and utility.
One of the earliest attempts to analyze a statistical problem involving censored data was Bernoulli's 1766 analysis of smallpox morbidity and mortality data to demonstrate the efficacy of vaccination.
Read more about this topic: Daniel Bernoulli
Famous quotes containing the word statistics:
“July 4. Statistics show that we lose more fools on this day than in all the other days of the year put together. This proves, by the number left in stock, that one Fourth of July per year is now inadequate, the country has grown so.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“He uses statistics as a drunken man uses lamp-posts—for support rather than illumination.”
—Andrew Lang (1844–1912)
“and Olaf, too
preponderatingly because
unless statistics lie he was
more brave than me: more blond than you.”
—E.E. (Edward Estlin)