Super Crunchers by Ian Ayres (2008, Paperback, Reprint) Ch1 Essays

1. Identify from Chapter 1 a quantitative application discussed by the author that you were already familiar with.

The law of averages is something that I have used in my everyday life. From shopping to calculating rent or spending per day, it is something that I have found useful without thinking of it as a statistics topic. I wasn't surprised reading about this in the book - I think it is the most basic statistical practice that must be used by everyone.

2. Which quantitative application discussed by the author surprised you and why?

I am surprised that like averaging, regression analysis is used in many things I read or hear about in my day to day life. Until now, I had no idea that regression was used in online and loyalty shopping and food delivery sites, and surprisingly, even online dating and music sites. I know there is a lot of statistics involved in gambling, too. Data mining is helpful in keeping casino and airline businesses running through customer loyalty programs, matching potential employees as well as how to be able to price electronic goods, for example, on eBay. Frankly, in doing so, Ian Ayres in Chapter 1, has practically made me understand what regression analysis and data mining really are in the real world.

3. In 5-6 sentences, summarize what the author is trying to tell us in Chapter 1. What is the message and how is he setting the stage for the rest of the book?

What I like about this book we are assigned to read for class is that it is very similar to Malcolm Gladwell and the Freakonomics series. Chapter 1 of Super Crunchers aptly introduces how statistics is being used unknowingly by us in our everyday lives. It shows us how it affects us without even knowing it. I have always thought that unless you plan on becoming a statistician, statistics terms and practices will hardly be used outside the classroom. Now, I am eagerly awaiting to read the next couple of chapters and discover where else statistics is being used.