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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
John Larry Kelly Jr. (December 26, 1923 – March 18, 1965), was an American scientist who worked at Bell Labs. From a "system he'd developed to analyze information transmitted over networks," from Claude Shannon's earlier work on information theory , he is best known for his 1956 work in creating the Kelly criterion formula.
Kelly betting or proportional betting is an application of information theory to investing and gambling. Its discoverer was John Larry Kelly, Jr. Part of Kelly's insight was to have the gambler maximize the expectation of the logarithm of his capital, rather than the expected profit from each bet. This is important, since in the latter case ...
Dorothy Lyman (April 18, 1947) is an American television actress, director, and producer. She is most known for her work as Gwen Frame on Another World, on All My Children as the original Opal Sue Gardner, as Rebecca Whitmore on Generations, and on the sitcom Mama's Family as Naomi Harper.
This is a list of actors and actresses who have had roles on the soap opera All My Children. It aired from January 1970 to September 2011 and was revived for five months in 2013. The longest serving cast member is Susan Lucci, who played the heroine Erica Kane from January 1970 to the original finale in September 2011.
The Kelly Family is a European-American music group consisting of a multi-generational family, usually nine siblings who were joined occasionally on stage in their earlier years by their parents. They play a repertoire of rock , pop , and folk music , and sing in English, Spanish, German, and Basque.
Corcoran was born in Quincy, Massachusetts, [3] the third of eight children to William Henry "Bill" Corcoran, Sr. and Kathleen Hildegarde Corcoran (née McKenney). Her siblings, William Henry "Bill Jr.," Donna, Kerry, Hugh, Kevin, Brian and Kelly, all acted as children. [4] She attended Fresno State University from 1962–1964, but did not ...
Moira Kelly was born in Queens, New York on March 6, 1968. She is the daughter of a trained concert violinist, Peter, and a nurse, Anne, who are Irish immigrants. Kelly is the third of six children and was raised in Ronkonkoma, New York. She was brought up as a Catholic. [3]