Examlex
More people seem to fear a snake bite than a dog bite, and yet statistically one is more likely to be bitten by a dog than by a snake. This is because people tend to estimate the probability of an outcome based on how easy the outcome is to imagine. This represents which of the following cognitive biases?
Chebyshev's Theorem
A statistical theorem stating that for any real-valued random variable, a minimum proportion of values fall within a certain number of standard deviations from the mean, regardless of the shape of the distribution.
Normal Distribution
A symmetrical, bell-shaped distribution of data where most measurements are concentrated around the mean, describing many types of naturally occurring data.
Empirical Rules
statistical rules that apply to normal distributions, describing how many observations fall within certain standard deviations from the mean.
Label
A label is a piece of information attached to an object, product, or document that provides identification, description, warnings, or instructions.
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