This guide covers all you need to know about numbers and numerical techniques. Liberally scattered with charts, graphs, tables, and feature boxes, it explains the fundamentals of numeracy and provides a range of essential methods for effective decision making.
An A-Z of terms gives easy reference and is supported by a detailed index.
Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers.
If the inflation rate rises from 10% to 12% it has risen by two percentages points, but the actual percentage increase is 20%.
The probability of dealing a five-card hand containing four aces is 48/2,598,960=0.0000185 or 1 in 54,145. Not something to put money on.
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