The Numbers Guide, now in its fifth edition, is aimed at managers who have budgetary, planning or forecasting responsibilities and is invaluable for everyone who wants to be competent, and able to communicate effectively, with numbers. There are chapters on Key Concepts :* Finance and investment * Measures for interpretation and analysisForecasting techniques * Sampling and hypothesis testingIncorporating judgments into decisions * Decision-making Linear programming and networking * How spreadsheet programmes can make it easy. The guide also points out common pitfalls, such as: * On rounding Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers. * On percentages If the inflation rate rises from 10 percent to 12 percent it has risen by two percentage points, but the actual percentage increase is 20 percent. * On probability The probability of dealing a five-card hand containing four aces is 48/2,598,960 = 0.0000185 or 1 in 54,145. Not something to put money on.
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