Kindle Edition of my book "Stock Trading Riches" Free All This Week on Amazon

The Kindle version of "Stock Trading Riches" is free on Amazon all this week (Monday 5/20 - Friday 5/24).

 Here is the link: http://www.amazon.com/Stock-Trading-Riches-Transforms-ebook/dp/B0065CE3VO

 Remember that, to enjoy Kindle books, you don't need to own a kindle. Amazon has free kindle readers for macs, PCs, iPads, etc.

Scholarship Puzzle - The Answer

(Solution Hidden)  

It will be easier to figure out the reverse - what is the chance that the girl doesn't win any of the three scholarships? Then, we subtract this percentage from 1 to see what the chance is that she wins at least one. 

 She has a 4/5 chance of not winning the first scholarship from the first grant. Then, she has a 3/4 chance of not winning the second scholarship from the first grant. Finally, she has a 4/5 chance of not winning the scholarship from the second grant. 

Since all three of these scenarios need to happen, we multiply the rates together: 4/5 * 3/4 * 4/5 = 48/100. 

So, the girl has a 48% chance of not winning any of the three scholarships. This means that she has a 52% chance of winning at least one of them.

Scholarship Puzzle

A girl is one of 5 finalists for a grant that awards two scholarships.  She's also one of 5 finalists for a grant that rewards one scholarship. 

Assuming that all finalists have an equal chance of winning, what is the chance that she will win at least one of the three scholarships?

Please click here for the answer.

Magic Numbers In Sports

Magic numbers are listed in sports articles near the end of the season for sports like baseball and basketball.  These numbers are generated for teams trying to clinch a playoff spot or their division.

What is a magic number?

The magic number shows how many wins by the leading team and/or losses by the second place team are needed for the leading team to win the division.

How is the magic number calculated?

It is calculated by T - W1 - L2

where T is the total games in the season

W1 is the wins by the leading team

L2 is the losses by the second place team

How is the magic number reduced?

As we can see from the formula, each win by the leading team decreases the magic number by one. Each loss by the second place team also reduces the magic number by one. When the magic number reaches 0, then the team clinches.

For example, assume that Team A is leading Team B in the standings and has a magic number of 4. Today, both Team A and Team B play games against different opponents.

Here are the results from the 4 possible outcomes:

1. Team A wins and Team B loses. Magic number is now 2.

2. Team A wins and Team B wins. Magic number is now 3.

3. Team A loses and Team B loses. Magic number is now 3.

4. Team A loses and Team B wins. Magic number stays at 4.

Converting From Fractions To A Percentage Without A Calculator

Let's convert 5/12 to a percentage without using a calculator:

1. A percentage is simply a value divided by 100. So, we multiply our fraction by (100/12)/(100/12). This leaves us with 500/12 / 100, or 500/12 %

2. This reduces to 250/6 %

3. Finally, we can reduce this to 41 4/6 %, which is 41 2/3 %.

4. So, 5/12 is 41.67%

Going To Work Puzzle

A man jumps in his car and leaves for work, driving at 30 mph.

Half and hour later, his wife realizes that he forget some important papers he needs.

She jumps into her car with the papers and drives after him at 60 mph.

How long does it take for her to catch up to him?

Please click here for the answer.

Ev Bogue and "Minimalist Business" Interview, Part II

Here is part II of my interview with Ev Bogue, author of "Minimalist Business":

http://simple-trading-system.blogspot.com/2012/03/interview-with-ev-bogue-author-of_20.html