Statistics and the NFL – plus Social Security and your retirement

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Question
Stastics and the NFL – plus Social Security and your retirement

  1. How can we use probability statistics to anticipate health care costs for the future?

  2. What is the probability that your favorite NFL team will win the Super Bowl?

  3. Can using probability in market trending decisions lead to a bad decision? Explain?

  4. Is there too much emphasis on probability statistics in decision making today? Why or why not?

  5. Using current projections, will Social Security be available for your retirement? How has this statistic affected your retirement planning? How should this statistic affect your retirement planning?