How a 1979 MG Midget Taught Me to Love Risk Analysis

Thinking about the principles of risk analysis in my '79 MG Midget.

At the tender age of 17 I sold my soul to a 1979 MG Midget.  Or, at least I sold my body into indentured servitude to it.  I spent my entire earnings from two prior summer jobs and my part time job after school to acquire this little gem.  Fire engine red.  Black racing stripes.  Mag wheels.  And, yes, a sixty-five bhp engine.  As cool as that sounds, and as anyone who has ever owned a British Leyland product already knows, I spent a lot of time tinkering with the car to keep it running, often at the most inconvenient of times. Doe-eyed brunette: "Why are we stopping here?" Me: "Uh, I have to tinker with the engine.  Seriously." I obsessively measured the performance of this car by the fuel mileage.  With each fill-up I recorded the gallons and the change in the odometer reading in a little notebook I kept in the glove compartment.  By this, I kept track of my fuel mileage between fill-ups and a running average over the month, each to unwarranted precision.  My … [Read more...]