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Related Concept Videos

Decision Making: P-value Method01:09

Decision Making: P-value Method

The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can have a...
Decision Making: Traditional Method01:14

Decision Making: Traditional Method

The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
Decision Making01:20

Decision Making

Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
Automatic decision-making is fast, intuitive, and relies on gut feelings...
Survival Tree01:19

Survival Tree

Survival trees are a non-parametric method used in survival analysis to model the relationship between a set of covariates and the time until an event of interest occurs, often referred to as the "time-to-event" or "survival time." This method is particularly useful when dealing with censored data, where the event has not occurred for some individuals by the end of the study period, or when the exact time of the event is unknown.
 Building a Survival Tree
Constructing a survival tree begins...
Factorial Design02:01

Factorial Design

Factorial Analysis is an experimental design that applies Analysis of Variance (ANOVA) statistical procedures to examine a change in a dependent variable due to more than one independent variable, also known as factors. Changes in worker productivity can be reasoned, for example, to be influenced by salary and other conditions, such as skill level. One way to test this hypothesis is by categorizing salary into three levels (low, moderate, and high) and skills sets into two levels (entry level...
Reason and Intuition01:37

Reason and Intuition

The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the brain can only use...

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Related Experiment Video

Updated: Jul 1, 2026

Selecting Multiple Biomarker Subsets with Similarly Effective Binary Classification Performances
07:35

Selecting Multiple Biomarker Subsets with Similarly Effective Binary Classification Performances

Published on: October 11, 2018

Predictor combination in binary decision-making situations.

Robert E McGrath1

  • 1Fairleigh Dickinson University, Teaneck, NJ 07666, USA. mcgrath@fdu.edu

Psychological Assessment
|September 10, 2008
PubMed
Summary

Adding more predictors doesn't always improve decision accuracy in psychology. Often, the best single predictor performs better than multiple combined predictors in real-world scenarios.

Area of Science:

  • Psychology
  • Decision Science
  • Behavioral Economics

Background:

  • Professional psychologists frequently make binary decisions.
  • Decision accuracy is often assumed to improve with more predictors.

Purpose of the Study:

  • To evaluate the actual impact of combining predictors on decision accuracy in applied psychological settings.
  • To compare the efficacy of multiple predictors against single best predictors.

Main Methods:

  • Analysis of decision-making processes in typical applied settings.
  • Comparison of outcomes from combined predictors versus single predictors.

Main Results:

  • Multiple predictors, when combined using common methods, often do not improve accuracy over the best single predictor.

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A Real-world What-Where-When Memory Test
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A Real-world What-Where-When Memory Test

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Last Updated: Jul 1, 2026

Selecting Multiple Biomarker Subsets with Similarly Effective Binary Classification Performances
07:35

Selecting Multiple Biomarker Subsets with Similarly Effective Binary Classification Performances

Published on: October 11, 2018

A Real-world What-Where-When Memory Test
09:13

A Real-world What-Where-When Memory Test

Published on: May 16, 2017

  • The best single predictor can outperform combined multiple predictors in many practical situations.
  • Conclusions:

    • Standard statistical methods may overestimate accuracy gains from additional predictors.
    • Information required to ensure improved fit with multiple predictors is seldom available.
    • Findings align with the "take the best" heuristic, suggesting simpler models can be superior.