Hello, fellow CFA charters or actuaries. Ronda's mom's comment in UFC 190 Vlog Epi 3 really bugs me.
She said.
"Even if someone has a one in a million chance per second of beating you, if you let it go 60 seconds where you could have done it in ten, you give them six times the chance, that's just stupid"
Now there are three possibility in each second, Ronda wins, Ronda loses or proceed to the next second. Therefore this is basically a Trinomial Option Pricing Model, right?
She implied that the probability of an opponent winning in a 60 second is six times greater than an opponent winning in 10 seconds, that must mean the probability is additive, which is erroneous.
A simpler example, say Bethe has 1 in 1000 chance of winning per second, if it's additive, than that means after 1000 seconds, the Bethe has a 100% chance of winning. Which is not true.
If you do a two step trinomial model starting from the 10th second of round 1, which we denote as t_0, and for the sake of easier of calculation, let Ronda chance of winning per second be 3/10, Bethe winning = 1/10 and proceeding to the next second be 6/10.
probability at t_1, or 1 second after t_0, is 3/10 for Ronda (R), 6/10 going into next second (N) and 1/10 for Bethe (B). Or mathematically, P(R)_1 = 0.3, P(N)_1 = 0.7 and P(B)_1 = 0.1
At t_2, which means they have to go through the previous second, which had a 0.6 probability, therefore P(R)_2 = 0.3 * 0.6 = 0.18, P(N)_2 = 0.6^2 = 0.36 and P(B)_2 = 0.1 * 0.6 = 0.06
etc
At each second, the probability of Ronda beating Bethe is always the same,
At the 60th second, or t_50, Bethe's chance is 0.1 * 0.6^49 = 1.34714 E-12, the cumulative chance from t_1 to t_50 and to the of the match is 0.25 via a KO, TKO or submission for Bethe. 0.25 is not 50 times bigger than 0.1.
I mean she's got a PhD and an expert in SAS apparently, how can she make up statistically incorrect statement?
On the actual problem, what Ronda's mom is talking about is Ronda changing her own probability for finishing the fight by holding back to make a point like she claims she's going to do (thus reducing what they consider a near certain finish to a non-finish) . If she does that, her own chances of winning shrink and Beche's go up for the longer she maintains that posture. The principle is obviously sound, but the way it was related was not technically correct and it's somewhat splitting hairs.
If a fighter has a 1/1 million chance to win a fight in 10 seconds, and that chance remains the same for as long as the fight progresses, with one fighter removing their own probability of winning, the math goes something like...
Chance to win in 1st period: 0.000001 = 1 in 1 million
2nd 10 seconds: 0.000000999999 = 1 in 1 million, times chance to not win in 1st period
3rd: 0.000000999998= 1 in a million, times chance to not win in 1st or 2nd periods
4th: 0.000000999997= 1 in a million, times chance to not win in 1st, 2nd or 3rd periods
5th: 0.000000999996=1 in a million, times chance to not win in 1st through 4th periods
6th: 0.000000999995 = 1 in a million, times chance to not win in the 1st through 5th periods
Summing all of the above probabilities: 0.000005999985, which is another way of saying 5.999985 out of a million (very close to 6 times the chance to win in the first 10 seconds).
Of course, those of us acquainted with reality know that probabilities are not applicable to the scenario in such a way. It is certainly the case that the chance to finish in the first ten seconds is astronomically low compared to the chance to win in the second ten, or the third through some later period of the fight. As the fight draws out, the probabilities to finish the fight fluctuate in a punctuated, not gradual manner, but go down as both fighters tire, where as if one tires more, they can go up. This could be the case with Ronda, which is why I think that the chances of Beche winning go up at a much more than steady rate (exponentially) as the fight progresses. We are talking about a dynamic system and such a simplistic application of statistics (or indeed, any) is not appropriate in modelling it. The only reason to bring up probabilities is to illustrate a point, really.
I don't think you know what you're talking about.
P(! beat Ronda in 1s) = 0.999999 = 1 - 0.000001
P(! beat Ronda in 6s) = 0.999999^6
Since !win = lose,
P(Opponent beating Ronda in 6s) = 1 - P(! beat Ronda in 6s) = 1 - 0.999999^6 = 0.00000599998
I went to college too ts
I'm not an overcompensating dick about it
First level CFA curriculum. Post a certificate pic or GTFO.
If anyone on sherdog has a CFA designation, even level 1 passed, I'll be shocked
What's CFA?
I think I've see this or something similar said about every single degree at this point.
People seem to really love to put down other people's degrees.
What's CFA?
I went to college too ts
I'm not an overcompensating dick about it