<quote>We have to notice that nearly no one high in business now or on the way to being high in business knows more than just some elementary applied statistic

<quote>We have to notice that nearly no one high in business now or on the way to being high in business knows more than just some elementary applied statistics, from long ago, that they never understood very well, never really used, and was likely poorly taught. Also they have not seen much of significance in business from anything at all serious in statistics. They know about the importance of computing, the Internet, and maybe some of assembly line robots, supply chain optimization, comparisons among planes, trains, trucks, biomedical research, even efforts in applied nuclear fusion, but they nearly never attribute significant importance to statistics.</quote> You've never worked in finance, have you? Modern economics, especially the portions dealing with finance, is indistinguishable from applied statistics. The Black-Scholes option pricing formula that is at the heart of almost all trading algorithms is statistical. VaR and other risk metrics all rely heavily on statistics. Now, its an open question as to whether such a reliance on statistical methods is a good thing for the industry. However, you cannot say that managers in finance companies don't appreciate statistics. They appreciate it very much, since those statistical models determine their bonus at the end of the year.