Lesson 19: Changing Your View Of Your World: Slide  29

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Making Decisions Based On Probability And Sampling

  • Sampling is the process of selecting a representative group
  • We all have decisions to make based on limited data
  • George Bush needed just a few bites of broccoli to decide that it was not for him
  • Most critical decisions would be impossible without sampling
  • The doctor cannot draw all your blood before deciding on what medicine to prescribe

Notes:

Pg.73, “Against The Gods The Remarkable Story of Risk,” Peter L. Bernstein, John Wiley and Sons, Inc. , 1996

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