There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact. — Mark Twain
Many a statistic is false on its face. It gets by only because the magic of numbers brings about a suspension of common sense. — Darrell Huff
Data is easily manipulated. That is to say, it can be made deceptive, misleading, or be a big fat lie. It happens everywhere someone wants to make a point fit their narrative or agenda. Politics and advertising are some of the biggest manipulators around.
The world of finance is no slouch either. It happens with earnings…well, adjusted earnings. When you absolutely, positively have to show a good quarter, just conveniently leave out a few expenses.
In How to Lie with Statistics, Darrell Huff takes a witty approach to all the ways people can deceptively turn raw data into biased “facts” and how to spot it: Continue Reading…