The Flaw of Averages Sam L. Savage, Stanford University
Ever seen the cartoon of the statistician who waded in a river whose average depth was three feet and drowned when it dipped to six feet? Averages only tell you so much, and Professor Sam L. Savage of Stanford University has made a cause of his career warning against simplistic mathematical assumptions. The author of “The Flaw of Averages: Why We Underestimate the Face of Uncertainty” offers his perspective in this segment.
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