Statistician and FiveThirtyEight blogger for The New York Times Nate Silver talks about forecasting elections, and the weather, plus his new book, The Signal and the Noise: Why So Many Predictions Fail-But Some Don't.
Less than a week before the election, many observers across the political spectrum say that they believe a victory for President Obama is highly likely. Others say that it's reckless to predict the future with any kind of certainty. Nate Silver of the New York Times FiveThirtyEight blog explains to Brooke the difference between forecasting and fortune-telling, and defends his belief that an Obama win seems probable.
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Nate Silver looks at how predictions are made, and why experts and laypeople both mistake more confident predictions for more accurate ones. He explains that overconfidence is often the reason for failure, and if our appreciation of uncertainty improves, our predictions can too. In The Signal and the Noise: Why So Many Predictions Fail—but Some Don’t Silver visits the most successful forecasters in a range of areas, from hurricanes to baseball, from the poker table to the stock market, from Capitol Hill to the NBA.
Nate Silver is something of an authority on political forecasting. In 2008, his blog FiveThirtyEight correctly predicted the outcome of the presidential race in 49 out of 50 states. (In that same election, he was also right about all 35 senate races.) Bob sits down with Silver to talk about the 2012 election as well as his new book, The Signal and the Noise: Why So Many Predictions Fail—But Some Don't.
Political junkies, economists, baseball scouts, meteorologists, and basically everyone else in the world is constantly trying to predict the future. And yet with the overwhelming amount of data that came with the information age, forecasters are often wrong — if not completely shocked — by the results.
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Richard Florida looks at how the recession will reshape not just the American economy, but the fundamental demographics of the country. How will New York fare in the new economic order? Plus, inside info from NYC Scout; Joe Nocera on nationalizing the banks; Nate Silver's Oscar picks; and crowdsourcing lunch.
Blogger Nate Silver made his name by using his skills as a baseball statistician to call the presidential race for Obama back in March. His site—FiveThirtyEight.com became the go-to spot for obsessive poll-watchers during the elections. Now he’s turned his attention to Congress and what numbers can foretell about the Legislative Branch in 2009.