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:
“Every literary critic believes he will outwit history and have the last word.”
—Mason Cooley (b. 1927)
“The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.”
—Walter Bagehot (1826–1877)
“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)