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Related Concept Videos

Numerical Calculations01:24

Numerical Calculations

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In engineering applications, the representation of the numerical value is critical. Presenting or reporting the answer is one of the essential parts of engineering practices. Numerical calculations are performed using handheld calculators or computers since numerically accurate answers are always preferred.
The solution to a problem is obtained using different methods. While manually solving algebraic symbols is one of the most common methods, the graphical method is often preferred. Computers...
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Reason and Intuition01:37

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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...
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How Data are Classified: Numerical Data00:59

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Data that are countable or measurable in specific units are called numerical or quantitative data. Quantitative data are always numbers. Quantitative data are the result of counting or measuring the attributes of a population. Amount of money, pulse rate, weight, number of people living in a town, and number of students who opt for statistics are examples of quantitative data.
Quantitative data may be either discrete or continuous. All quantitative data that take on only specific numerical...
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Significant Figures in Calculations00:58

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Uncertainty in measurements can be avoided by reporting the results of a calculation with the correct number of significant figures. This can be determined by the following rules for rounding numbers:
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Decision Making: P-value Method01:09

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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...
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Nominal Level of Measurement00:56

Nominal Level of Measurement

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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. Not every statistical operation can be used with every set of data. For analysis, data are classified into four levels of measurement—nominal, ordinal, interval, and ratio.
The data that cannot be measured but can be grouped into categories fall under the nominal level of measurement. Data that is measured using a nominal...
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Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
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Communicating numeric quantities in context: implications for decision science and rationality claims

David R Mandel1

  • 1Socio-Cognitive Systems Section, Defence Research and Development Canada and Department of Psychology, York University Toronto, ON, Canada.

Frontiers in Psychology
|May 19, 2015
PubMed
Summary

No abstract available in PubMed .

Keywords:
contextdecision-makinglinguistic interpretationnumeric quantifiersrationality

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