@ipso ”Testing to see if someone is psychic you can use their test results to the ratio metrics to see if they do significantly better than random.” Yes, this is one of the basic tests that paranormal claims must pass to demonstrate scientific validity. Generally statistical significance (low p-value) is lacking in tests of psychic ability. There’s a vast skeptical literature on the long and sad history of junk science, fake science, and hoaxes on which evidence for psychic abilities rests.
@Zaku: Read about Clever Hans: ”Though the experiment strongly indicated that the horse probably had no real grasp of math, it did uncover an extraordinary insight…There is evidence to indicate that horses may possess an enhanced sensitivity to inconspicuous body language, perhaps as a key part of their social interactions with other horses” (the point being the horse trainer was subtly cuing the horse to stop tapping while probably unaware of it himself). Which calls for a Feynman quote: Science is a way of trying not to fool yourself. The first principle is that you must not fool yourself, and you are the easiest person to fool. [1964 lecture]
Back to the original question: ”What is the probability of a random data set having a pattern” As noted by others above, pattern is a vague term. A small number of simple rules can generate non-trivial infinite patterns—think computer programs. The results may be pseudo-random or chaotic—but deterministic nonetheless. (True randomness occurs in nature, e.g. in the form of radioactive decay, though the probabilities are precisely measured and explained by theory.)
But then if an underlying pattern exists which is generating the sequence, then it isn’t really “random” after all, is it? At some level, being random and having a pattern are mutually exclusive properties. In fact randomness is even more slippery a concept than pattern. Making the question a bit ambiguous.
In Carl Sagan’s sci-fi novel Contact the aliens send blocks of data whose length is the product of two prime numbers, suggesting rearrangement as a 2-dimensional raster-scan bit image (which indeed pans out in the story). Many seemingly random sequences can turn out to be highly patterned, organized, and intelligent.
But wait: Pattern recognition is what our Home sapiens brains have been honed to do over millions of years. As Michael Shermer put it in Why People Believe Weird Things, ”We evolved to be skilled, pattern-seeking, cause-finding creatures. Those who were best at finding patterns (e.g., standing upwind of game animals is bad for the hunt, cow manure is good for the crops, etc.) left behind the most offspring. We are their descendants.”
Again there’s a huge amount written about the human tendency to find signals in noise (seeing the Virigin Mary in fried tortillas, for instance). Eerie-seeming coincidences in numerical sequences are no different, and can give the illusion of “pattern” where none actually exists, such as the first few decimal digits of e, mentioned in somebody’s answer above.
Bottom line: You can always find patterns in random, or seemingly random, data. Whether such patterns are actually meaningful is usually in doubt. It’s easy to fool yourself.