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389. Why Understanding Statistics Is a Fundamental Part of Life with David Spiegelhalter

unSILOed with Greg LaBlanc

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Valuing Statistical Life and Risk in Public Policies

Exploring the societal perspectives on risk and the monetary value placed on preventing fatalities, this chapter delves into the concept of micromort as a unit of risk, comparing UK and US values for statistical life. It emphasizes the collective societal responsibility in determining investment in risk reduction and evaluates the application of statistics in policy effectiveness, especially during the COVID-19 pandemic.

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