Transcript
A (0:00)
This BBC podcast is supported by ads outside the UK. Today's episode is sponsored by NerdWallet's Smart Money podcast. Ever Google a money question and end up 12 tabs deep with 12 different answers? This podcast is your shortcut back to clarity. NerdWallet's Smart Money podcast breaks down financial decisions with a team of trusted journalists. They explain the why behind decisions like investing, home buying and choosing credit cards with clear research backed insights. No jargon, no misinformation. Make your next financial move with confidence. Follow NerdWallet's Smart Money podcast on your favorite podcast app. Ever invest in something that seemed incredible at first but didn't live up to the hype? Like those five dollar roses at a gas station? Or a secondhand piece of technology that breaks in the first 10 minutes? Marketers know that feeling. We optimize for the numbers that look great, impressions reach and reacts. But when they don't show revenue, well, that's a not so great conversation with the CFO. LinkedIn has a word for bullspend. Now you can invest in what looks good to your CFO. LinkedIn ads generates the highest ROAS of all major ad networks. You you'll reach the right buyers because you can target by company, industry, job title and more. So cut the bull, spend. Advertise on LinkedIn, the network that works for you. Spend $250 on your first campaign on LinkedIn ads and get a 250 credit for the next one. Just go to LinkedIn.com broadcast that's LinkedIn.com broadcast. Terms and conditions apply.
B (1:48)
Hello and thanks for downloading the more or less podcast. We're the programme that looks at the numbers in the news, in life and in highly ambiguous language. I'm Charlotte MacDonald. When you're reading the news, you'll often stumble across words that are meant to communicate the probability of something happening. A terrorist attack is a realistic possibility. The spread of a certain strain of viruses Highly likely. The relegation of your favourite football team is possible, even if you did get a last minute equaliser against Liverpool. But when you hear these terms, do you really know what kind of probabilities they're trying to get across? Do you know how likely likely is and what probability probable is meant to convey? In some cases, it seems you probably don't.
C (2:44)
I'm Adam Kacharski, I'm a professor of epidemiology and author of the Uncertain Science of Certainty.
B (2:51)
Adam has a very healthy obsession with the problem of communicating probabilities and it would be remiss of us if we didn't start out by making sure you understand what the numbers you're going to hear actually mean. So what does it mean if we say there's an 80% chance of something happening?
