Question: Discussion Topic We have learned quite a bit about probability, population, and hypothesis as far as statistics go. But how does all this play

Discussion Topic We have learned quite a bit about probability, population, andhypothesis as far as statistics go. But how does all this play

Discussion Topic We have learned quite a bit about probability, population, and hypothesis as far as statistics go. But how does all this play out in your life? Do you really stop and calculate statistical data before making every decision. More than likely, the answer to that question is "no." That being the case, how do we make decisions? Do we base our decisions on what others think, believe, say, or do? This sort of takes us back to what we have been taught from childhood and life experiences, doesn't it? Do you make irrational decisions? How often do you agree with unanimous decisions? How do we consider the probability of something happening or draw an hypothesis if we don't stop and make statistical calculations? Are you aware that all your past experiences and the people around you are big influencers in your decision-making process? For this discussion, first watch the following TED Ed videos. You may also want to do further research on the differences and similarities of heuristics and hypothesis. Should you trust unanimous decisions?:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!