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Numbers Rule Your World: The Hidden Influence of Probabilities and Statistics on Everything You Do by Kaiser Fung

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Conclusion

Statistical thinking is hard,” the Nobel prize winner Daniel Kahneman told a gathering of mathematicians in New York City in 2009. A revered figure in the world of behavioral economics, Professor Kahneman spoke about his renewed interest in this topic, which he first broached in the 1970s with his frequent collaborator Amos Tversky. The subject matter is not inherently difficult, but our brains are wired in such a way that it requires a conscious effort to switch away from the default mode of reasoning, which is not statistical. Psychologists found that when research subjects were properly trained, and if they recognized the statistical nature of the task at hand, they were much likelier to make the correct judgment.

Statistical thinking ...

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