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What You (Really) Need to Know--Decision Science

From former Harvard President and U.S. Treasury Secretary Larry Summers in the NY Times on coming changes in higher education:

"It is not possible to make judgments about one’s own medical care without some understanding of probability, and certainly the financial crisis speaks to the consequences of the failure to appreciate “black swan events” and their significance. In an earlier era, when many people were involved in surveying land, it made sense to require that almost every student entering a top college know something of trigonometry. Today, a basic grounding in probability statistics and decision analysis makes far more sense."

 As a decision analysis professional and teacher, that's good to see.

Posted on Thursday, January 26, 2012 at 12:27PM by Registered CommenterPeter Regan in | Comments1 Comment

Reader Comments (1)

It's good to survey land before buying property so that you can determine that you are actually getting what you are going to pay for.

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