Quotes by Gary Smith

(84) "Modern physics uses the normal distribution to describe the movements of molecules. The motion of each individual molecule is quite disordered, and yet their overall behavior is very predictable. This disordered movement is known as random walk. The idea of random walk was actually used by Laplace and others to analyze a gambler's chances of wandering into bankruptcy. Today, the random walk is applied to many phenomena, including the stock market."