The 11 Ways That Consumers Are Hopeless at Math

You walk into a Starbucks and see two deals for a cup of coffee. The first deal offers 33% extra coffee. The second takes 33% off the regular price. What's the better deal?

"They're about equal!" you'd say, if you're like the students who participated in a new study published in the Journal of Marketing. And you'd be wrong. The deals appear to be equivalent, but in fact, a 33% discount is the same as a 50 percent increase in quantity. Math time: Let's say the standard coffee is $1 for 3 quarts ($0.33 per quart). The first deal gets you 4 quarts for $1 ($0.25 per quart) and the second gets you 3 quarts for 66 cents ($.22 per quart).

The upshot: Getting something extra "for free" feels better than getting the same for less. The applications of this simple fact are huge. Selling cereal? Don't talk up the discount. Talk how much bigger the box is! Selling a car? Skip the MPG conversion. Talk about all the extra miles.

More from The Atlantic.

Majority of STEM College Graduates Do Not Work in STEM Occupations

The U.S. Census Bureau reported this week that 74 percent of those who have a bachelor’s degree in science, technology, engineering and math — commonly referred to as STEM — are not employed in STEM occupations. In addition, men continue to be overrepresented in STEM, especially in computer and engineering occupations. About 86 percent of engineers and 74 percent of computer professionals are men.

      “STEM graduates have relatively low unemployment, however these graduates are not necessarily employed in STEM occupations,” said Liana Christin Landivar, a sociologist in the Census Bureau’s Industry and Occupation Statistics Branch. 

       According to new statistics from the 2012 American Community Survey, engineering and computer, math and statistics majors had the largest share of graduates going into a STEM field with about half employed in a STEM occupation. Science majors had fewer of their graduates employed in STEM. About 26 percent of physical science majors; 15 percent of biological, environmental and agricultural sciences majors; 10 percent of psychology majors; and 7 percent of social science majors were employed in STEM.

      Approximately 14 percent of engineers were women, where they were most underrepresented of all the STEM fields. Representation of women was higher among mathematicians and statisticians (45 percent), life scientists (47 percent) and social scientists (63 percent). The rates of mathematicians and statisticians, and life scientists are not statistically different from each other.

Disparities in STEM Employment by Demographics and Education

From Disparities in STEM Employment by Sex, Race, & Hispanic Origin

Industry, government, and academic leaders cite increasing the science, technology, engineering, and mathematics (STEM) workforce as a top concern. The National Academy of Sciences, National Academy of Engineering, and the Institute of Medicine describe STEM as “high-quality, knowledge-intensive jobs . . . that lead to discovery and new technology,” improving the U.S. economy and standard of living.

In 2007, Congress passed the America COMPETES Act, reauthorized in 2010, to increase funding for STEM education and research. One focus area for increasing the STEM workforce has been to reduce disparities in STEM employment by sex, race, and Hispanic origin. Historically, women, Blacks, and Hispanics have been underrepresented in STEM
employment.


From The Relationship Between Science & Engineering Education and Employment in STEM Occupations

A question one might ask is whether increased training in science and engineering yields more STEM workers. This report explores the links between educational attainment, science and engineering training in college, and employment in a STEM occupation. Several pathways may increase the STEM workforce. Science and engineering training in college could result in subsequent STEM employment. Alternatively, or in addition, the number of STEM workers without a bachelor’s degree in a science and engineering field could grow.

The Hidden STEM (science, technology, engineering, and math) Economy

From Brookings:

Workers in STEM (science, technology, engineering, and math) fields play a direct role in driving economic growth. Yet, because of how the STEM economy has been defined, policymakers have mainly focused on supporting workers with at least a bachelor’s (BA) degree, overlooking a strong potential workforce of those with less than a BA. An analysis of the occupational requirements for STEM knowledge finds that:

As of 2011, 26 million U.S. jobs—20 percent of all jobs—require a high level of knowledge in any one STEM field. STEM jobs have doubled as a share of all jobs since the Industrial Revolution, from less than 10 percent in 1850 to 20 percent in 2010.

Half of all STEM jobs are available to workers without a four-year college degree, and these jobs pay $53,000 on average—a wage 10 percent higher than jobs with similar educational requirements. Half of all STEM jobs are in manufacturing, health care, or construction industries. Installation, maintenance, and repair occupations constitute 12 percent of all STEM jobs, one of the largest occupational categories. Other blue-collar or technical jobs in fields such as construction and production also frequently demand STEM knowledge.

STEM jobs that require at least a bachelor’s degree are highly clustered in certain metropolitan areas, while sub-bachelor’s STEM jobs are prevalent in every large metropolitan area. Of large metro areas, San Jose, CA, and Washington, D.C., have the most STEM-based economies, but Baton Rouge, LA, Birmingham, AL, and Wichita, KS, have among the largest share of STEM jobs in fields that do not require four-year college degrees. These sub-bachelor’s STEM jobs pay relatively high wages in every large metropolitan area.

More STEM-oriented metropolitan economies perform strongly on a wide variety of economic indicators, from innovation to employment. Job growth, employment rates, patenting, wages, and exports are all higher in more STEM-based economies. The presence of sub-bachelor’s degree STEM workers helps boost innovation measures one-fourth to one-half as much as bachelor’s degree STEM workers, holding other factors constant. Concentrations of these jobs are also associated with less income inequality.

Mathwords

Terms and Formulas from Beginning Algebra to Calculus

An interactive math dictionary with enough math words, math terms,math formulas, pictures, diagrams, tables, and examples to satisfy your inner math geek.

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