We often draw big conclusions from small datasets, leading to misguided decisions. Small stores showing extreme theft rates are due to their size, not location. Dobelli notes, 'The location isn’t the deciding factor.' Understanding this helps us interpret data more accurately and avoid errors in judgment. | Rolf Dobelli | The Art of Thinking Clearly

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The Law of Small Numbers: Misinterpreting Statistics

We often draw big conclusions from small datasets, leading to misguided decisions. Small stores showing extreme theft rates are due to their size, not location. Dobelli notes, 'The location isn’t the deciding factor.' Understanding this helps us interpret data more accurately and avoid errors in judgment.

-- Rolf Dobelli