Meaning Of Sandman's Equation: Hazard And Outrage

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14. Briefly explain the meaning of Sandman’s equation: Risk = hazard + outrage. What does it say about the relationship between the perceived risk and the actual risk of many events? Sandman claims that the two variables are correlated; when outrage is high hazard is low compared to when outrage is low and hazard is high. He uses the example of a child getting shot versus a child drowning. A parent will allow her child to go to a friend’s house with a swimming pool easily than a friend’s house with a gun. This is because of the drowning is less outrageous than getting shot even though it is more hazardous because it’s more frequent. 15. Briefly describe how the scientific analysis of a biologist or a physicist differs, generally speaking, Causation suggests that a change in one variable might cause the value of another variable to change. Causation signifies correlation however correlation does not signify causation. For example a child’s parent’s qualification might effect how well they do in school. Children with highly educated parents seem to do well in school portraying that causation does cause correlation as the two variables are also correlated. Freakonomics uses the example of snow and coldness to further the point that correlation does not imply causation. “It tends to be cold outside when it shows [demonstrating]…those two factors are positively correlated” (Levitt and Dubner Is a person’s name likely to be an indicator of that person’s success in later life? No, a person's name is not likely to be an indicator of that person's success in later life because a person's success is determined by their parent's background, not the name they have. Having said that, there is a correlation between some specific names and a higher income because wealthy parents tend to name their children one way, that is much more different than the way poor parents do, so it's merely a matter of the parent's backgrounds, how successful their child becomes. Frea konomics states that there seems to be a correlation between some names and a higher income but it does not reflect causation. 19. Evaluate this statement; “The name a parent gives his or her child will have a significant effect on the child’s success. After all, the data show that certain names are associated with increased income.” The data solely shows a correlation between certain names and a higher income, not causation. The name a parent gives his or her child is based on their level of education and their socioeconomic status. Parents who are economically successful chose from a selective group of names. The children seem to be successful because of the genes they inherited from their successful parents rather than the name chosen by their

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