In a series (planned) of videos on the 1st "anniversary" of SMO.
Enjoy, if you will. BTW, for anyone who wonders what Pareto Distribution is, here it is:
The Pareto distribution has major implications in our society. Consider its original use case, describing the distribution of wealth across individuals in a society. The vast majority of the world’s citizens are clustered at a low level of wealth, while a small percentage of the population controls the vast majority of all wealth. Policymakers may not realize that wealth is distributed according to a Pareto distribution rather than a normal distribution, and this gap in understanding could lead to suboptimal policy decisions in countries around the world. Perhaps equally profound is the ability to model productivity according to a Pareto distribution (while productivity and wealth are both distributed in the same manner, their correlation at the level of individuals is a matter of dispute and varies by context). In most professions it is hard to precisely quantify a worker’s productivity, but Major League Baseball (MLB) teams are experts in exactly this exercise. Using the Wins Above Replacement (WAR) metric as an estimate of a player’s value, we can see that MLB players are able to produce wins for their team in a Pareto-distributed fashion. It is amazing that even among the best 1,500 baseball players in the world, they are still distributed in this extreme way.
In the same manner--Markov Chain:
All is directly related to military planning and more... Fade into darkness with this: