Textbook Notes (363,145)
Chapter 17

# Statistical Sciences 1023A/B Chapter 17: Chapter 17 Premium

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School
Western University
Department
Statistical Sciences
Course
Statistical Sciences 1023A/B
Professor
Lori Murray
Semester
Winter

Description
When Intuition Differs from Relative Frequency Gamblers Fallacy Misperception about random events is that they should be selfcorrecting People think the longrun frequency of an event should apply even in the short run Example: the idea that numbers of boys and girls should even out, even in small numbers May not apply to situations in which knowledge of one outcome affects probabilities of the next (i.e. knowing one card is gone from the deck) People believe that a string of good luck is often followed by a string of bad luck To determine the probability of a positive test result being accurate, you need only three pieces of information: The base rate or probability that you are likely to have the disease, without any knowledge of your test results The sensitivity of the test, which is the proportion of people who correctly test positive when they actually have the disease The specificity of the test, which is the proportion of people who correctly test negative when they dont have the disease
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