Some notes on quantitative literacy topics

These are topics that I'm working on for the next version of the textbook.

1 What is a measure? (see Quantitative Information in Knowledge Claims)

2 Percentages and rates

Ways of reporting a tuition increase.

Percentage increase vs. rate of increase

Smith Barney case (p. 163 old text)

3 Linear vs. Non-linear relationships

Linear relationship in a function: increases in x result in proportional increases in y.

Non-linear: proportion variable.

Taking aspirin every other day reduces your chances of getting a hear attack by 47%.

Compounding: Would you rather have a million dollars or get a penny one day, double that the next, for 30 days?

4 Baseline

Definition: A baseline is a standard of comparison for looking at the change in some quantity. Baselines are established by controlling for particular variables that distort quantitative comparisons.

Nominal vs. Real wages

How can an increase in nominal income and a decrease in real income occur simultaneously?

5 Surveys

Read Section on this in Quantitative Information in Knowledge Claims

6 Cognitive Bias (Read in Discipline 3 of textbook)

1 Confirmation bias

2 Fundamental attribution error

3 Anchoring

4 Framing

7 Probability

1 Definition,

2 Gambler's fallacy,

3 Predictive dreams

4 SI jinx

8 Causation

1 Regression analysis

2 Multiple regression analysis