 Hey everyone, it's MJ and in this video, we're gonna be talking about the normal distribution and how it got its term of normal I mean if we had to look at the normal distribution, we can see that it is bell shaped and it is a continuous distribution It's also known as the Gaussian distribution Now although Carl Gauss was a very intelligent man He actually didn't discover it and it's weird because this is the same thing with the Poisson distribution Simon Poisson also didn't discover it. So who did? Well, I think both of these distributions were most likely discovered by the sky called Abraham de Moeve and he was an Absolute genius, but not many people know about him because he was constantly being outshone by his best friend Isaac Newton Anyway, what Abraham de Moeve would do is that he would plot the results of multiple binomial distribution simulations And he discovered a pattern that resembled a bell shape and this discovery led to the start of us finding the central limit theorem which gave birth to modern statistics And and that's the thing is that this curve would become so famous that it would get the name normal And you know normal means usual typical or expected Because again and again people would plot data and they would see the bell curve You know, it was to be expected. It was normal and soon normality started to become an assumption for a whole bunch of data sets However, however, someone called Mandelbrot the guy who discovered fractals warned the world that Financial prices were not normal. In fact, he said that they were an example of wild randomness and had infinite variance But the world ignored him because the normal distribution just worked so well with models I mean, there was so much mathematical support and as soon as you start introducing Infinite variance, you're gonna start breaking our actual models And so regulators ignored him and stuck with normal models to calculate their risk Thus the financial world Underestimated risk and it was a big stuff up. You know, we saw in 2008 the Great Recession The only happy part of this whole story is that Mandelbrot only died in 2010 Which means he got to see the world make one of the biggest mistakes ever that he had actually warned him against And that's why I kind of wonder if if his last words were I told you so But this is what makes that so interesting is that if you understand statistics You can be like Mandelbrot and be potentially like a world hero and and saving the day Yeah, I put Hawkeye there because he's like the one superhero who doesn't have any powers He just kind of you know runs around with his bow and arrow and you can do the same You can become a superhero if you understand statistics and I know we're going a little bit of topic here but I was really bummed that old Hawkeye wasn't in the The Lost Avenger movie and I'm hoping he's gonna return and be he's gonna be the hero to take down Thanos I think I think that's what's gonna happen in Avengers 4 We're gonna see Hawkeye vs. Thanos. It's gonna be a showdown and it's gonna be amazing Sorry, I'm going off topic. So let's end the video there And let me know if you've got any questions around statistics or the Avenger movie. Cheers everyone