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Latest Statistical inference Stories

2012-03-06 22:50:11

From the corporate boardroom to the kitchen table, important decisions are often made in collaboration. But are two–or three or five–heads better than one? Not always, according to new research from the University of Pennsylvania´s Wharton School. “People who make judgments by working with someone else are more confident in those judgments. As a result they take less input from other people”–and this myopia wipes out any advantage a pair may have over an...

2012-02-13 23:20:52

People aren't always good at making informed decisions that involve risk, but a new study shows that even when we know the likelihood of certain outcomes based on statistical evidence or our own experiences, we still make decisions at odds with the probability of their occurrence. Psychology research on risk and decision-making often employs questions about gambling–where information about probabilities is given explicitly in numerical form. For instance, in experiments, participants...


Word of the Day
lambent
  • Licking.
  • Hence Running along or over a surface, as if in the act of licking; flowing over or along; lapping or bathing; softly bright; gleaming.
This word comes the Latin 'lambere,' to lick.
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