Bonuses are a fact of business life. Last year the Guardian newspaper calculated that the cash rewards paid to London's financial chiefs comfortably outstripped the UK's entire transport budget. With such large sums at stake, envy is bound to raise its ugly head, nver a good thing for company morale. So how should you decide who gets how much? Steven J. Brams suggests a method that's not only
fair, but also encourages honesty.
This issue's teacher package brings together all Plus articles on probability and statistics, exploring anything from maths in the dock to games of chance. It also has some handy links to related problems on our sister site NRICH.
Rupa Patel never wanted to be a financial engineer — she wanted to be a maths teacher. However, her skills in conveying difficult mathematical concepts to others, as well as a love of maths, enticed her into the exciting field of financial mathematics. Now she models risk, travels Europe and occasionally finds time to herself to examine the maths of her job in detail.
This is the second part of our new column on risk and uncertainty. David Spiegelhalter, Winton Professor for the Public Understanding of Risk at the University of Cambridge, continues examining league tables using the Premier League as an example. Find out just how much — or how little — these simple rankings can tell you.