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> half a percent in profits can mean millions of dollars You took the right framing and inverted it into the wrong framing. It may be millions of dollars, but
by Ferret7446 3y ago
> half a percent in profits can mean millions of dollars
You took the right framing and inverted it into the wrong framing. It may be millions of dollars, but it's only half a percent relative to total profits. Variance is relative (see, e.g., the normal distribution).
- johnnyanmac 3y agoEh, lies, damn lies, and statistics. You saying it's the "right" or "wrong" framing is implying any of us had applied statistic rigor to centuries of grocer data, accounting for inflation and other economic factors. You even say it yourself, variance it relative. We don't know the normal distribution. I'm just explaining the POV that can prompt an investigation. A difference of millions of dollars is a lot to pocket for a business selling a necessary good. It's worth looking into.