When Predictions Fail - Crash Course Statistics

The video explores the role of predictions in statistics, focusing on financial markets, earthquakes, and elections. It discusses the challenges and errors in predicting the 2008 financial crisis, the complexity of earthquake predictions, and the unexpected results of the 2016 US presidential election. The importance of accurate data and models is emphasized, along with the understanding that predictions are not certainties.

Explain the significance of margins of error in election predictions.

What factors contribute to making accurate predictions according to the text?

How does the text suggest we should approach the uncertainty in predictions?