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Read through the most famous quotes by topic #statistic
Voting, we might even say, is the next to last refuge of the politically impotent. The last refuge is, of course, giving your opinion to a pollster, who will get a version of it through a desiccated question, and then will submerge it in a Niagara of similar opinions, and convert them into--what else?--another piece of news. Thus we have here a great loop of impotence: The news elicits from you a variety of opinions about which you can do nothing except to offer them as more news, about which you can do nothing. ↗
J. E. Littlewood, a mathematician at Cambridge University, wrote about the law of truly large numbers in his 1986 book, "Littlewood's Miscellany." He said the average person is alert for about eight hours every day, and something happens to the average person about once a second. At this rate, you will experience 1 million events every thirty-five days. This means when you say the chances of something happening are one in a million, it also means about once a month. The monthly miracle is called Littlewood's Law. ↗
The value for which P=0.05, or 1 in 20, is 1.96 or nearly 2; it is convenient to take this point as a limit in judging whether a deviation ought to be considered significant or not. Deviations exceeding twice the standard deviation are thus formally regarded as significant. Using this criterion we should be led to follow up a false indication only once in 22 trials, even if the statistics were the only guide available. Small effects will still escape notice if the data are insufficiently numerous to bring them out, but no lowering of the standard of significance would meet this difficulty. ↗
Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business. ↗
