Probability

“How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortunes of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.” Adam Smith, The Theory of Moral Sentiments (1759, p.47) Introduction A million little incidents happen every day when people make choices that are not in their interest-for the sake of family, friends or even complete strangers. Be it in the…

Operant learning, also known as instrumental, consequence, or response learning, is experiences where the behavior is made stronger or weaker by its consequence (Chance, 2014). This term coined by B.F. Skinner, a psychologist, after studying the behavior of a rat, within a box that contained food and a lever, was built on the foundation given by E.L. Thorndike’s Law of Effect (Chance, 2014). Skinner recognized two kinds of reinforcing events; one in which a positive stimulus is presented and the…

Positive and Negative Framing Effects on Decision Making Frequently, people come across situations in which decisions are needed, some important, others are urgent, and there are ones that are both urgent and important. Decision making is a cognitive process of selecting a choice from options that are given (Tversky & Kahneman 1981). Sometimes making a decision entails uncertainty and notoriously known to be difficult. One way a person can make a decision is to critically evaluate the…

The purpose of this study is to test the differences between age in relation to risk-taking in correlation with impulsiveness and reaction time. The reason being is because we are interested in figuring out whether or not younger adults are more prone to risk-taking and impulsiveness than the older adults. There have been multiple studies, which have confirmed younger adults are more prone to risk-taking and being more impulsive than their older adults. Risk-taking and impulsiveness is a huge…

living and succeed in America. The small amount of money they invested and by time the business was becoming increasingly achievable, gaining a profit, more employees and more supply and demand. The Author Ken P. says, “Hard work increases the probability of serendipity.”. Xuan’s wife still works at the bakery as the store manager, she hires new employees every once a while and train them to keep in track of products, bake, and wash. The business sells cheap products till now the donut prices…

Over the past couple of years, Canada has witnessed the issue of racial profiling gain increasingly amount of prominence from the public, as an increasing number of minorities reside in urban cities, while at the same time becoming targets by the police force on the account of their race. Despite the fact that this is a vital issue that several modern policing agencies face, they have been robust in denying even the mere thought of racial profiling. Rather, they have insisted on not targeting…

the risks in the research are the minimum required to achieve the research objective. To do this, researchers and IRBs should carefully consider alternative, less risky procedures or modifications to the procedures that reduce the magnitude or probability of the possible harm to subjects. • Is there fair subject selection in these studies and why? No, unfair, not equitable: Selection of subjects: the selection of research subjects needs to be scrutinized in order to determine whether some are…

The research conducted supported one of the hypothesises. Visual word recognition studies help researchers understand the lexical processing of the brain. The way in which the words are interpreted and the way in which the brain maps letters to its neural network, this lexical processing of numbers and letters are found to vary across cultures and languages (Stole & Strand, 2015). Visual word recognition is one of the most investigated topics in cognitive psychology. The contemporary theories…

standard deviation. This is not a normal distribution; the probability of occurrence in reality is much higher, about once every two years, which historically was 7 times over the past 14 years. In Comparison the daily volatility of China 's Shanghai and Shenzhen index of about 1.8%; A shares of the daily volatility of up to 2.75%, 7% which is equivalent to only two and a half times the standard deviation, in theory, however the probability of occurrence of a higher average of 40 trading days…

government can’t regulate all the pipelines , then it is better not to expand or develop this pipelines. In general, Canadian government shouldn’t allow the expansion of existing pipelines and/or development of new ones because of the prohibitive probability of oil spills that may cause toxic effects to the health of people and the local wildlife. The Rainbow Pipeline Oil Spill incident is enough proof that a single pipeline can released a huge amount of oil in which it can both harm the health…