History
The mathematical problem appears to date from 1888 where Edgeworth used the central limit theorem to determine the optimal cash reserves to satisfy random withdrawals from depositors.
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Famous quotes containing the word history:
“In the history of the United States, there is no continuity at all. You can cut through it anywhere and nothing on this side of the cut has anything to do with anything on the other side.”
—Henry Brooks Adams (1838–1918)
“History does nothing; it does not possess immense riches, it does not fight battles. It is men, real, living, who do all this.... It is not “history” which uses men as a means of achieving—as if it were an individual person—its own ends. History is nothing but the activity of men in pursuit of their ends.”
—Karl Marx (1818–1883)
“The history of American politics is littered with bodies of people who took so pure a position that they had no clout at all.”
—Ben C. Bradlee (b. 1921)