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A comment on The world needs at least 600M new jobs in the next decade for young people. Parent comment

Re:The world needs at least 600M new jobs in the next decade... by logfromblammo on Tuesday October 13, 2015 @05:18PM (#10383554)
That's not how probability works.

10 trials with a 10% success rate yields a 65.13% chance for at least one success.

100 trials with a 0.33% success rate yields a 28.39% chance for at least one success.

You have to use the binomial probability theorem to determine any particular number of hits.

trials! / ( successes! * failures! ) * P_success ^ successes * P_failure ^ failures

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Re:The world needs at least 600M new jobs in the next decade... by hollaur on Tuesday October 13, 2015 @06:58PM (#10384041)
I actually read an article on Medium that goes into this in-depth. It's not published anymore, but I had it in a G-Doc, which I linked here:

https://docs.google.com/a/freelanship.com/document/d/1pnuE_b...

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