Mar 21, 2019
The only certainty is nothing is certain. This simple quote from Pliny the Elder is extremely important in business and the introduction to Professor Sam Savages’ new book, The Flaw of Averages. If you do stupid things in the face of liability, even small probabilities can make a big difference. Even a 1 in 1 million chance the liability is so large you can’t afford to ignore it. Today Jack Russo chats with Sam Savage about how to use statistic to avoid the flaw of averages. Specific topics include:
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