31 karma · joined January 3, 2023
For precipitation you will be getting percent chance often with an interval, 10% chance of 0.1-0.25 inches with higher likely in thunderstorms. Also precipitation patterns tend to be much more irregular within small spatial extents. You can asses things like calibration and perhaps take a mean value for there intervals to get point errors. But all of this will make it harder to communicate actual performance.
The median home price would suggest that the median household income is at least $160k, which seems pretty good.
The question I would ask is, would geohot have been better to have gone to school to learn this and deferred all the work he has done?
Who is farther ahead, the people who already knew this from school, or the guy who is building and learning this as he goes?
The groundwater disappearing is a problem if you build up ag/industry/development based on the groundwater availability and then lose that source of water with no economical alternative.
There are no laws for applying probability to the real world. To think so puts too much faith in your models. Remember, all models are wrong. Applying probability to the real world requires a host of assumptions, regardless of the methods you use.
Frequentist and Bayesian methods have different goals, both have there place.
For a counterweight to the strong likelihood principle find discussions of Larry Wasserman: https://youtu.be/Z-YvWyM6dRQ?si=qwzRiaPbj9ruiUEv
And for a balanced discussion for why both are great see Michael Jordan: https://youtu.be/HUAE26lNDuE?si=cwg6wpRS1gXL6r1Y
Unfortunately leaving the tab and returning seems to make it crash. But I'll take this over another striver blog.
Project developers may use one method to do this, rating agencies may use another method, but at the end of the day we can never actually know. There are so many unknown physical, social, and economic factors that go into whether or not some area will be harvested. This is why we see such huge ranges in estimates of impact.