Decision Making with Probability & Statistics, Do it Right!

We all use Probability and Statistics, knowingly, or unknowingly, in a lot of our Judgements and Decisions. However, what we may not be aware of, are the many many ways we can go wrong, in using these concepts, from Probability and Statistics, for making our decisions. This includes the common errors , the many misconceptions we have, the conclusions we wrongly jump to, in judging probabilities, and risks, sampling and statistics.

The Human brain is not wired to intuitively understand probability or statistics. Researchers of the brain, believe that mathematical truths make little automatic sense to our mind, especially when considering random and non-random outcomes, or when considering a large amount of data. And because of that, we automatically and subconsciously end up making a lot of mistakes, in assessing risks and likelihood.

This Course will help you learn about, and try to avoid and minimize, such mistakes and misconceptions. For good quality, Data driven Business Decision Making. It will be useful for everyone, but especially for Leaders and Managers, whose various judgements and decisions can affect many people, organizations and countries.

It is a Beginner level Course, and it assumes only a basic High school level knowledge of Probability and Statistics. Disclaimer: You will not learn any foundational Probability or Statistics here, you will only learn about the mistakes and misconceptions commonly made, when using Probability and Statistics in Decision Making. Some Images and Videos courtesy Pixabay, Pexels, Pressfoto and FreePik.