While you might not think maths has had an impact on your life since you left school, mathematics affects much of your daily decision-making, often without you even realising it. From managing your finances to planning your meals, it’s hard to avoid maths.
Probability affects the likelihood of things occurring, and other mathematical concepts, such as sequences and patterns, may influence our behaviour in ways that are difficult to understand. Not only that, but it’s possible to utilise mathematical strategies when planning strategies to achieve optimal results.
In this article, we’ll look at what these mathematical concepts are and how different strategies can be applied to day-to-day decision-making.
What is Probability and How Does it Impact Our Lives?
Probability is the measure of how likely something is to happen. For example, if something has a low probability, then it has a low chance of occurring. On the other hand, high-probability events are very likely to occur.
Everything can be measured using probability, including the chance of rain, your likelihood of winning the lottery and the outcome of flipping a coin. Judging the probability of an outcome if necessary for sound decision-making. For example, you know that if you flip a coin, you have a 50% chance of guessing the outcome correctly.
By calculating the probability of an outcome, you can accurately determine risk and reward, and avoid making decisions that are likely to end in a bad outcome. For example, if the weather forecast tells you that there’s an 80% chance of rain, you’d make sure you have an umbrella or raincoat with you.
Probability is used to quantify uncertainty, and while you may not always be able to calculate an exact figure, having a rough idea of probabilities is key for making informed decisions.
The Fibonacci Sequence
The Fibonacci sequence is a sequence of numbers in which each number is the sum of the previous two numbers. The sequence was first described in Indian mathematics as far back as 200 BC but was named after the Italian mathematician Leonardo of Pisa, known as Fibonacci, who introduced it to Western European mathematics in 1202.
The numbers that make up the Fibonacci sequence are known as Fibonacci numbers and are strongly related to the golden ratio. They often appear in biology, with tree branches, leaves and pinecones all demonstrating sequences of Fibonacci numbers in how they’re arranged and constructed. While they’re not present in all species, they are still widely seen throughout nature.
Outside of nature, Fibonacci numbers are frequently used in art and architecture to create forms that are aesthetically pleasing. The connection to nature means that the golden ratio and Fibonacci numbers often look and sound natural when expressed in art and music.
Some people use Fibonacci numbers to explain and predict other outcomes too, including modelling virus breakouts and understanding the behaviour of financial markets. The incremental progress of the sequence can even be applied to personal goals.
Learning from Betting Systems
Numerical sequences often reveal order within chaos. They can also be used to manage risk and reward in many aspects of life. Many gamblers use mathematical sequences, known as betting systems, to determine their bet size in order to reduce their losses and maximise their wins.
Betting systems use numerical sequences to adjust bet size based on the most recent result. While they don’t actually affect a player’s chance of winning, they do help control bet sizes and effectively manage the bankroll.
Using a betting system can reduce the impact of probability. For example, if you use a system such as the D’Alembert to change your bet size, you will increase after losses and decrease after wins.
Betting systems are usually referred to as either positive or negative, with positive systems, such as the Fibonacci system, increasing your bet after a win and negative systems, such as the D’Alembert, increasing your bet size after a loss.
The idea of using a betting system is to take advantage of winning steaks or avoid the impact of losing streaks. Betting systems are useful ways to manage risk and avoid the risk of betting too much. However, it’s still important to avoid relying on these systems too heavily.
Some systems, such as the Martingale system, are based around doubling bet size after every loss. Although this will theoretically lead to the player always winning back their losses while playing a game with 50/50 odds, it can quickly become larger than the average bankroll during a losing streak.
Using Mathematical Strategies in Daily Life
Mathematical strategies aren’t just used by gamblers. You can use mathematics to calculate the probability of everyday outcomes and assess risk. In addition, it’s possible to use numerical sequences to plan your actions and reach your goals.
For example, let’s imagine you’re self-employed, and your income fluctuates from month to month. You can use a numerical sequence such as the Fibonacci sequence to adjust your savings contributions based on how much you’ve earned that month.
When using mathematical strategies in your daily life, it’s important to start off small. Making big changes straight away can be more challenging to implement, and getting something wrong could lead to larger issues.
While utilising a mathematical strategy might be beneficial for making decisions, it’s important to adjust your strategy when needed. In some instances, you might find that tweaks are needed. You should always be readjusting strategies based on effectiveness. Don’t just stick with something if it’s no longer working as intended.
Final Thoughts
Our lives are often subject to a lot of uncertainty, which can be challenging to deal with. Understanding probability helps to remove some of that uncertainty and makes it easier to plan and implement strategies.
Mathematical sequences such as the Fibonacci and D’Alembert can provide a useful structure for managing risks in all areas of life. Before implementing a mathematical strategy, ensure you understand it fully and that you’re using it to make informed decisions rather than letting it make decisions for you.
