Presentation is loading. Please wait.

Presentation is loading. Please wait.

Overconfidence Together with hindsight bias, can lead to overestimate our intuition “There is not reason for anyone to have a computer in their home.”

Similar presentations


Presentation on theme: "Overconfidence Together with hindsight bias, can lead to overestimate our intuition “There is not reason for anyone to have a computer in their home.”"— Presentation transcript:

1

2

3

4 Overconfidence Together with hindsight bias, can lead to overestimate our intuition “There is not reason for anyone to have a computer in their home.” Ken Olson, president of Digital Equipment Company, 1977

5 Three main components Curious eagerness Skeptically scrutinize competing ideas Open-minded humility before nature

6 “Smart thinking” Four elements Examines assumptions Discerns hidden values Evaluates evidence Assesses conclusions

7

8 Theory “mere hunch” Hypotheses Can be confirmed or refuted Operational Definition Replication (repeat)

9

10

11 an observation technique in which one person is studied in depth in the hope of revealing universal principles. Problem Study could be atypical

12 Looks at many cases at once  Word effects

13  Population all the cases in a group being studied, from which samples may be drawn.  Note: Except for national studies, this does NOT refer to a country’s whole population.

14  Random Sampling  a sample that fairly represents a population because each member has an equal chance of inclusion.

15 Describes behavior Does not explain behavior Stranger Paper

16  Positive Correlations - is when 2 scores rise or fall together  Negative Correlations - Is when 2 sets of scores relate inversely – one set goes up and the other goes down

17

18

19

20

21 Comes from our need to make sense out of the world Coin flip Poker hand

22  Randomly Assigning ◦ Control Group ◦ Experimental Group  Double-blind Procedure  Placebo Affect

23  Independent The experimental factor that is manipulated; the variable whose effect is being studied.  Dependent The variable that may change in response to manipulations of the independent variable.

24

25  Mode ◦ occurs the most  Mean ◦ arithmetic average  Median ◦ middle score

26 Normal Curve (bell shaped)

27 Statistical Significance The averages are reliable The differences between averages is relatively large Does imply the importance of the results


Download ppt "Overconfidence Together with hindsight bias, can lead to overestimate our intuition “There is not reason for anyone to have a computer in their home.”"

Similar presentations


Ads by Google