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The Role of Perception in Statistics-Based Decisions (2019-US-30MP-274)

Level: Beginner

 

Bryan Fricke, JMP Principal Software Developer, SAS

 

JMP is a powerful tool for generating statistical reports for evaluation by decision makers. However, when it comes to preparing reports, accuracy and comprehensibility are only part of the story. For example, Amos Tversky and Daniel Kahneman have suggested that presenting results in terms of a potential loss can have about twice the psychological impact as an equivalent gain. In this session, we will explore the role perception plays in statistics-based decisions and how knowledge of that role should inform JMP users with respect to generating reports for decision makers.