Related Concept Videos

The Anchoring-and-Adjustment Heuristic01:25

The Anchoring-and-Adjustment Heuristic

In order to make good decisions, we use our knowledge and our reasoning. Often, this knowledge and reasoning is sound and solid. However, sometimes, we are swayed by biases or by others manipulating a situation. For example, let’s say you and three friends wanted to rent a house and had a combined target budget of $1,600. The realtor shows you only very run-down houses for $1,600 and then shows you a very nice house for $2,000. Might you ask each person to pay more in rent to get the $2,000...
Ratio Level of Measurement00:54

Ratio Level of Measurement

The way a set of data is measured is called its level of measurement. Correct statistical procedures depend on a researcher being familiar with levels of measurement. For analysis, data are classified into four levels of measurement—nominal, ordinal, interval, and ratio.
A set of data measured using the ratio scale takes care of the ratio problem and provides complete information. Ratio scale data are like interval scale data, except they have a zero point and ratios can be calculated. For...
Relative Frequency Histogram01:14

Relative Frequency Histogram

The relative frequency depicts the proportion of data points that have each value. The frequency tells the number of data points that have each value. Like the histogram, a relative frequency histogram also has the same shape with a horizontal scale (the x-axis), but the vertical scale (the y-axis) is marked with relative frequencies (percentages of the whole) instead of actual frequencies. A relative frequency histogram is a graphical representation of a frequency distribution where the...
Constraints and Statical Determinacy01:26

Constraints and Statical Determinacy

In structural engineering, the equilibrium of a system is not only determined by its equations of equilibrium but also with the help of constraints. Constraints refer to restrictions on the motion of a system. The proper combinations of constraints can minimize the total number of constraints needed to maintain a system in mechanical equilibrium. When this happens, the system is said to be statically determinate. For such systems, the unknown reaction supports can be estimated using equilibrium...
Drug Dosing: Infants and Children01:29

Drug Dosing: Infants and Children

Pediatric patient dosages diverge from adults due to disparities in body surface area, total body water, and extracellular fluid per kilogram of body weight. The dosing regimen considers the variations in pharmacokinetics and pharmacology across distinct age groups, encompassing preterm newborns, infants, young children, older children, and adolescents. Calculation of pediatric patient doses is predicated on determining body surface area, which exhibits a superior correlation with the child's...
Limit Laws I01:25

Limit Laws I

Limit laws provide essential tools for analyzing how functions behave as their input approaches a specific value. These laws are particularly useful when dealing with combinations of functions, provided the individual limits exist. The Sum and Difference Laws state that the limit of the sum or difference of two functions equals the sum or difference of their respective limits:The Product Law asserts that the limit of the product of two functions equals the product of their individual limits:A...