RESEARCH: Exploiting numeracy
Dec 23 2011
In the 2012 Baseball Forecaster, Ron Shandler discusses the how the astute fantasy baseball manager may gain a competitive advantage from gleaning data that are widely available to all those who play the game. Not everyone interprets the data in the same way. For example, fantasy managers can strictly adhere to the projections, or instead base decisions on hunches, columnists’ opinions, spring training chatter, or past experience with a player’s performance. Even more fundamentally, people actually derive meaning from numbers in different ways.
The concept of numeracy
This week, we introduce what psychologists refer to as numeracy. Numeracy can be defined as an individual's ability to understand and use numbers. Think of it as...
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