Saturday, August 12, 2006

The economics and statistics of bombing an airplane

This past week’s foiled terrorist plot reminded me of two jokes that I heard in class when I was at UVA. The first was told by an engineering professor I had during my first year. A statistician was going on vacation and brought a bomb with him onto the airplane. He explained that his biggest fear about air travel was that a terrorist might detonate a bomb while the plane was in flight even though he realized that the odds of a bomb making its way onto an airplane were one in a million. By bringing a bomb onto the plane, and making sure it doesn’t detonate, in order for the plane to blow up, there would have to be a second bomb on the plane. And the odds of a second bomb making its way onto the airplane was one in a million raised to the second power.

 

The second joke was told by a former-Wall-Street-big-shot-turned-economics-professor I had during my fourth year. He said that his daughters were worried about him because he was always flying around the country on business trips. His standard response was “don’t worry, I have insurance.”

 

So did you like any of these two jokes? Or did they both ….. bomb?


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