Quantamize Book of the Week
May 14, 2018
Today we introduce our Book of the Week. This week we are highlighting "Standards Deviations-Flawed Assumptions, Tortured Data and Other Ways to Lie with Statistics", by Gary Smith.
As Nobel Prize–winning economist Ronald Coase once cynically observed, “If you torture data long enough, it will confess.” Lying with statistics is a time-honored con. In Standard Deviations, economics professor Gary Smith walks us through the various tricks and traps that people use to back up their own crackpot theories. Sometimes, the unscrupulous deliberately try to mislead us. Other times, the well-intentioned are blissfully unaware of the mischief they are committing. Today, data is so plentiful that researchers spend precious little time distinguishing between good, meaningful indicators and total rubbish. Not only do others use data to fool us, we fool ourselves. (Overlook Press)
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