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What the Numbers Say: A Field Guide to Mastering Our Numerical World

di Derrick Niederman

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Our society is churning out more numbers than ever before, whether in the form of spreadsheets, brokerage statements, survey results, or just the numbers on the sports pages. Unfortunately, people’s ability to understand and analyze numbers isn’t keeping pace with today’s whizzing data streams. And the benefits of living in the Information Age are available only to those who can process the information in front of them. What the Numbers Say offers remedies to this national problem. Through a series of witty and engaging discussions, the authors introduce original quantitative concepts, skills, and habits that reduce even the most daunting numerical challenges to simple, bite-sized pieces. Why do the nutritional values on a Cheerios box appear different in Canada than in the U.S.? How is it that top-performing mutual funds often lose money for the majority of their shareholders? Why was the scoring system for Olympic figure skating doomed even without biased judges? By anchoring their discussions in real-world scenarios, Derrick Niederman and David Boyum show that skilled quantitative thinking involves old-fashioned logic, not advanced mathematical tools. Useful in an endless number of situations, What the Numbers Say is the practical guide to navigating today’s data-rich world.… (altro)
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In the tradition of Innumeracy and the various Freakonomics books. The authors are a PhD mathematician (Niederman) and a PhD in Public Policy {Boyum). The book is interesting to browse, but we’ve heard all this stuff before – the perils of small sample size, the lack of understanding of the Pareto distribution, how to mislead with percentages, regression to the mean, and so on. I did pick up a very useful trick from the chapter on the value of approximations and the perils of using a calculator, though: if you look up converting Celsius to Fahrenheit, the exact conversion is multiply by 9/5 and add 32. You probably can’t do that readily in your head. Niederman and Boyum point out the approximation – double and add 30 – is doable mentally and will never be off by more than a few degrees. (If you’re going the other way, subtract 30 and divide by 2).

The authors use examples from contemporary politics, which not only illustrate the woeful innumeracy of many commentators but also the maxim that you should never assume malevolence when incompetence is a valid explanation – sort of a variant on Occam’s Razor. One interesting point is the authors actually concur with the Washington Post columnist who criticized requiring all high school students to take algebra; they propose “practical math” type courses instead. Possibly not a bad idea; the kind of numerical reasoning they give examples of would benefit most people more than algebra. Alas, I suspect this sort of thing would somehow degenerate into a Common Core-type math fiasco.

Worth a browse; a quick read and, perhaps surprisingly no math beyond the basics. ( )
  setnahkt | Jan 1, 2018 |
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Whether we realize it or not, quantitative information pervades our professional and personal lives.
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Our society is churning out more numbers than ever before, whether in the form of spreadsheets, brokerage statements, survey results, or just the numbers on the sports pages. Unfortunately, people’s ability to understand and analyze numbers isn’t keeping pace with today’s whizzing data streams. And the benefits of living in the Information Age are available only to those who can process the information in front of them. What the Numbers Say offers remedies to this national problem. Through a series of witty and engaging discussions, the authors introduce original quantitative concepts, skills, and habits that reduce even the most daunting numerical challenges to simple, bite-sized pieces. Why do the nutritional values on a Cheerios box appear different in Canada than in the U.S.? How is it that top-performing mutual funds often lose money for the majority of their shareholders? Why was the scoring system for Olympic figure skating doomed even without biased judges? By anchoring their discussions in real-world scenarios, Derrick Niederman and David Boyum show that skilled quantitative thinking involves old-fashioned logic, not advanced mathematical tools. Useful in an endless number of situations, What the Numbers Say is the practical guide to navigating today’s data-rich world.

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