How to lie with statistics is the name of a famous book by Darrell Huff in 1954 explaining how easy it is to lie with statistics. The book is almost 70 years old, but the topic is still relevant. Why is that? “Lies, damned lies, and statistics” describes the persuasive power of statistics. Statistics can …
All decisions concern future operations. When a company prepares decision-making materials for important matters, macroeconomic trends such as unemployment, consumer confidence indices and purchase prices must be taken into account. Each business must pay attention to the economic environment they are operating in to use the effect of these trends to its advantage. Each company …
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