Thursday, October 22, 2009

Statistical mistake

Many times lately I have heard about a statistical mistake. Based on those who were successful, in management, economic growth countries, sports competitors, etc, take their common strategies and managing and apply them to you or your interest and you will see it success.

The fallacy here is that unsuccessful stories have not been counted. What if a thousand unsuccessful stories had applied those “apriori” successful strategies and managing. That would mean that those were not such good ideas.

Usually we all ignore failures and as is commonly said “we learn from failures” also statistically.

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