Sam Savage has written a book that reveals what is behind a simple flaw in so many management decisions.This book leads the manager who is used to accounting-style, point-estimate thinking to the world of thinking with probabilities.His writing style is light (sometimes even funny) but the content is meaty.Savage criticizes what he calls "steam era" concepts of statistics which most stats courses seem stuck in and introduces decision making under uncertainty in a way that is much more welcoming than most books on this topic.I suspect that if more people had a professor like Sam Savage as their first mentor on statistics, there would be far fewer people with bad memories of that course.
His approach is all about avoiding intimidating terminology and getting hung up on esoteric concepts.In particular, he explains the concepts of Monte Carlo simulations in a way that might just get the reader excited about the power of the tool.He is not only an expert in MC simulations himself (he has developed many new innovations in the method) but is also an expert in how to explain it to a wide audience.
This is a book written for laymen with enough interesting insights to engage even the most scholarly professional.
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