After floundering on the above question for a couple of minutes because you can't answer questions about the Kelly Criterion if you don't know what the Kelly Criterion is, I got this gem: You have daily total spending data for each of the 50 states for the last 3 years. Ie I know how much money changed hands in Montana, Nebraska, Utah, etc for every single day since Jan 1 2009. Design a strategy to make money. What statistical techniques would you use? What if the data is just random noise - can you really extrapolate? And so on and so forth.
