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.
On rounding
Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers.
On percentages
If the inflation rate rises from 10% to 12% it has risen by two percentages points, but the actual percentage increase is 20%.
On probability
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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