<ul><li>Researchers extract a lot of false certainty from data which is used to study a particular hypothesis, due to their myopic thinking, confirmation bias, and other cognitive assumptions that they aren't even aware of.</li><li>Many researchers believe in small samples of data as if they stand for the whole of the population, and this can lead to unpredictable consequences.</li></ul>

Beliefs and Statistics

It points out our irrational bias and behavior towards our surroundings. How people succumb to irrational beliefs was demonstrated in an experiment at a University Kitchen.It found out that if there was a poster with eyes put up near the kitchen counter, then people were more likely to pay for the food, subconsciously taking those eyes in the poster as someone looking at them.

The Eye Poster Experiment

The Anchoring effect is a phenomenon studied in the art of persuasion and influence. It states that people tend to register the first piece of information that they get and 'anchor' it in their minds subconsciously. This makes them compare the second piece of information they get with the anchored information in their minds, automatically.

The Anchoring Effect

Most studies that involve statistical research remain largely inaccurate, and a large number of hypotheses use data samples which are inadequate.

Statistics Inaccuracies

Danny Kahneman's love affair with Amos Tversky began in the spring of 1969, when his dazzling and clever colleague, also a professor of psychology at Hebrew University in Jerusalem, came to give a talk to Kahneman's graduate seminar. Tversky told the students about a new study being done by researchers in Michigan on how regular people tend to think about statistics.