3 ms·
Yeah, it’s the practicality. Most business decisions don’t need more than three sigfig [source?]. We only tend to think about precision on things that already h
by travisjungroth 4y ago
Yeah, it’s the practicality. Most business decisions don’t need more than three sigfig [source?]. We only tend to think about precision on things that already have it.
- 0cf8612b2e1e 4y agoUnless you are trying to prove the existence of a subatomic particle, I am not sure what business decisions have anything close to that level of certainty.
- travisjungroth 4y agoKinda depends on what you mean by "business decisions". Repetition can bring in a high need for confidence. You don't want to have your life depend on a piece of equipment that has a one in a million chance of failure if it gets tested a thousand times an hour. Pricing things can also need a lot of certainty, like in HFT. But most things aren't either of those cases and people are commonly off by an order of magnitude.