Explain Why It Is Important for Sociologists to Have a Healthy

question 47

Essay

Explain why it is important for sociologists to have a healthy skepticism about the statistics we encounter daily.

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Definitions:

Tracking Error

A measure of the deviation from the performance of a benchmark by an investment portfolio.

Optimized Portfolio

A portfolio of investments that has been designed to achieve the best possible balance of risk and return, based on specific investor goals and constraints.

Posterior Distribution

Revised probability distribution for a variable after adjustment for empirical evidence on its likely value.

Prior Distribution

Probability distribution for a variable before adjusting for empirical evidence on its likely value.