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FG News

One Mistake That Every Shopaholic Does

15 Aug 17

Contain yourselves people, because we’ve got all the secrets and insider suggestions that are freshly discovered by the experts.

As per a recent study consumers make poor purchase decisions.  Michael Tsiros, professor of marketing at the University Of Miami School Of Business Administration has blamed people’s poor understanding of ratios. The professor stated that the consumer often makes a mistake about the average ratio information, such as comparing the fuel efficiency of two cars.

Perhaps the consumer bungle the numbers by incorrectly assuming the mathematic equation stated the researchers. This incorrect way of crunching the numbers leads to only 25-30 percent of shoppers getting the correct answer, said the experts.

Michael stated that people depend heavily on the 'normal' way to compute an average. Additionally, if they simply had ready access to software that calculates the average of ratios then people could make more informed decisions about many big-ticket purchases, such as cars.

By: Priyanka Negi

Content: www.sciencedaily.com

 

 


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