calculated risk

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Calculated Risks
Author :
Publisher : Simon and Schuster
Release Date :
ISBN 10 : 1439127093
Pages : 288 pages
Rating : 3/5 (3 users)
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At the beginning of the twentieth century, H. G. Wells predicted that statistical thinking would be as necessary for citizenship in a technological world as the ability to read and write. But in the twenty-first century, we are often overwhelmed by a baffling array of percentages and probabilities as we try to navigate in a world dominated by statistics. Cognitive scientist Gerd Gigerenzer says that because we haven't learned statistical thinking, we don't understand risk and uncertainty. In order to assess risk -- everything from the risk of an automobile accident to the certainty or uncertainty of some common medical screening tests -- we need a basic understanding of statistics. Astonishingly, doctors and lawyers don't understand risk any better than anyone else. Gigerenzer reports a study in which doctors were told the results of breast cancer screenings and then were asked to explain the risks of contracting breast cancer to a woman who received a positive result from a screening. The actual risk was small because the test gives many false positives. But nearly every physician in the study overstated the risk. Yet many people will have to make important health decisions based on such information and the interpretation of that information by their doctors. Gigerenzer explains that a major obstacle to our understanding of numbers is that we live with an illusion of certainty. Many of us believe that HIV tests, DNA fingerprinting, and the growing number of genetic tests are absolutely certain. But even DNA evidence can produce spurious matches. We cling to our illusion of certainty because the medical industry, insurance companies, investment advisers, and election campaigns have become purveyors of certainty, marketing it like a commodity. To avoid confusion, says Gigerenzer, we should rely on more understandable representations of risk, such as absolute risks. For example, it is said that a mammography screening reduces the risk of breast cancer by 25 percent. But in absolute risks, that means that out of every 1,000 women who do not participate in screening, 4 will die; while out of 1,000 women who do, 3 will die. A 25 percent risk reduction sounds much more significant than a benefit that 1 out of 1,000 women will reap. This eye-opening book explains how we can overcome our ignorance of numbers and better understand the risks we may be taking with our money, our health, and our lives.

Calculated Risks

At the beginning of the twentieth century, H. G. Wells predicted that statistical thinking would be as necessary for citizenship in a technological world as the ability to read and write. But in the twenty-first century, we are often overwhelmed by a baffling array of percentages and probabilities as we

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A Calculated Risk

A female financial whiz plans the perfect bank heist in this “high-tech, high-stakes” thriller from the #1 international-bestselling author of The Eight (The Washington Post). Verity Banks is the one of the most powerful women in finance, but she still reports to a man. Her boss not only refuses to implement

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Calculated Risks

Safeguarding economic prosperity, whilst protecting human health and the environment, is at the forefront of scientific and public interest. This book provides a practical and balanced view on toxicology, control, risk assessment and risk management, addressing the interplay between science and public health policy. This revised edition provides a detailed

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Calculated Risk

Download or read online Calculated Risk written by Anonim, published by Unknown which was released on 1960. Get Calculated Risk Books now! Available in PDF, ePub and Kindle.

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Calculated Risk

"Mark W. Clark was a major figure in World War II. He was prominent as one of the top American commanders. Together with Dwight D. Eisenhower, Omar N. Bradley, and George S. Patton, Jr., Clark was widely regarded as being responsible for victory on the European side of the conflict."

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Calculated Risk

She thought she was finally safe, But her past won’t let her go. Sheriff’s deputy Tanner Dempsey is just doing his job when he stops a shoplifter trying to steal diapers and formula. But something about this frightened young woman makes him want to do more. Bree Daniels

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Calculated Risk

Unlike other American astronauts, Virgil I. "Gus" Grissom never had the chance to publish his memoirs—save for an account of his role in the Gemini program—before the tragic launch pad fire on January 27, 1967, which took his life and those of Edward White and Roger Chaffee. The international prestige

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Calculated Risk

Whoever said opposites attract was right, of course...but no one ever said what they attract. Jilted by the latest of her father's choices of 'real men,' Cisney Baldwin rashly accepts an invitation to spend Thanksgiving weekend with a sympathetic colleague and his family. Nick LeCrone is a man

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Calculated Risk

Download or read online Calculated Risk written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing and Transportation, published by Unknown which was released on 2009. Get Calculated Risk Books now! Available in PDF, ePub and Kindle.

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Calculated Risk

How does an entrepreneur take any idea and turn it into a profitable venture? What do investors look for when evaluating start-ups? These two important questions are answered in a new book by one of America's top traders, Michael J. Palumbo, called Calculated Risk: The Modern Entrepreneur's Handbook. The book

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Calculated Risk

Famous for leading the Tokyo Raid, America's first strike against Japan in World War II, Jimmy Doolittle led a remarkable life as an American pilot. This firsthand account by his granddaughter reveals an extraordinary individual—a scientist with a doctorate in aeronautical engineering from MIT, an aviation pioneer who was

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Calculated Risk

When John Dunlop gives Judy Scott a lift to Glencoe on his motorbike, both are surprised when a relationship develops. But for John all passions must be relegated to the demands of the big climb.

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Calculated Risk

Unlike other American astronauts, Virgil I. "Gus"Grissom never had the chance to publish his memoirs. Killed along with his crewin a launch pad fire on January 27, 1967, Grissom also lost his chance to walkon the moon and return to describe his journey. Others went in his place. Thestories of the

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Calculated Risk

CLANDESTINE COVER-UP Accountant Victoria Hayes never would have thought discovering fraud in her office would put her life at risk. When her house catches fire, destroying the evidence she's collected, it seems the mastermind will do anything to keep Victoria from disclosing what she knows. Unsure what to do, she

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Calculated Risk  Large Print 16pt

Mark W. Clark was a major figure in World War II. He was prominent as one of the top American commanders. Together with Dwight D. Eisenhower, Omar N. Bradley, and George S. Patton, Jr., Clark was widely regarded as being responsible for victory on the European side of the conflict.

GET BOOK!