The World's Best Book Summaries
What exactly is probability? How can mathematical probability help us in real life? Probability is a mathematical ratio that communicates the likelihood of a particular event over all other possible outcomes. It allows us to manage uncertainty by measuring risks and putting possible outcomes in perspective. In this article, we’ll discuss some real-life applications of probability.
What are inferential statistics? How are inferential statistics applied in real life? Inferential statistics are a powerful research tool due to a statistics tenet called the central limit theorem. The central limit theorem states that the mean of a representative sample will be close to the mean of the larger population. Therefore, we can confidently make inferences about a population from a sample or about a sample from a population, and we can compare samples to each other. In this article, we’ll explore inferential statistics examples in real life.
What is big data? Why does Seth Stephens-Davidowitz care about it? In Everybody Lies, Seth Stephens-Davidowitz says information from big data can be used for the greater good. But to do so, data researchers have to understand big data’s inherent strengths—and avoid its inherent weaknesses. Learn more about big data, Seth Stephens-Davidowitz’s definition of it, and why it’s important for research.
How does Invisible Women define data bias? How does data bias hurt women on a healthcare and safety level? As explained in Invisible Women, data bias occurs when socio-cultural prejudices affect systematic processes. The author, Caroline Criado Perez, specifically talks about how a lack of information about the female experience affects women’s health, safety, and economic standing. Continue reading to learn more about gender data bias.
What are the benefits of big data? Do you want to know how to use data well? Despite all of the potential advantages, Seth Stephens-Davidowitz acknowledges that it’s easy to use big data ineffectively. To get the most out of big data, Stephens-Davidowitz says you should focus on its four main benefits: new types of information, unprecedented honesty, high resolution, and easy cause-effect analysis. Keep reading for the four benefits of big data that are explained in Everybody Lies.
Why are words important? How does data use words? Words have always been used as data, but big data allows researchers to study more words, especially on search engines. Without words, we wouldn’t be able to use search engines to discover the truth about people. Learn why words are important, according to Seth Stephens-Davidowitz in his book Everybody Lies.
What exactly is data? Can people and images be data? In Everybody Lies, Seth Stephen-Davidowitz says that new technology is allowing us to turn more things into data. He further explains how bodies and images can now be used as data. Keep reading to learn how everything is data.
What happens when you use data for unethical reasons? What are the drawbacks and dangers of big data? Even though Seth Stephens-Davidowitz is openly enthusiastic about data studies, he’s aware that data has drawbacks and limitations and can lead to great harm if used unethically. In Everybody Lies, he explores some cases where these dangers have come to pass. Read below for unethical use of data examples.
What is the future of population growth? How does population affect the economy? In Capital in the Twenty-First Century, Thomas Piketty says that population growth will likely slow in future decades. This means that production will slow down and the capital-to-income ratio will rise. Check out why the future of population growth is essential for the economy.
How much of life is random? What can be gained by accepting that randomness? You could understand anything in the world by learning a finite set of rules and patterns that apply to all aspects of life. That’s the premise of The Great Mental Models series of books from Farnham Street (FS), a website dedicated to timeless knowledge and insightful ideas. The Great Mental Models Volume 3 argues that we can benefit by accepting that most of life is random. The benefits include making better decisions, making fewer prediction errors, and enjoying more creativity. Keep reading to learn more about what