There are three kinds of lies: lies, damned lies, and statistics.

I still remember my first seminar on modeling.  I was shown how, with proper statistical techniques, done by a Ph.D. Statistician, one could find the top 20% of the customers who produced 80% of the profits in a mailing.  Neiman Marcus ran the tests and the graphics were impressive.  However, questions arose in my mind, […]

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