But one of the largest industries in the world is the insurance industry. And they use lots of statistics. And they make lots of money based on those statistics. So statistics are used to make predictions and decisions that are more beneficial for those insurance companies than decisions made using intuition alone. The fact that statistics have predictive value doesn't mean the Dr. Jones' conclusions are dead on. Dr. Jones may have made a mistake in premise, math, empirical data, or judgment.
I am trying to understand Larry's argument that since one hit unbroken clays are extant Dr. Jones' calculation of the frequency of one hit breaks is wrong.
Last edited by AmarilloMike; 02/02/14 01:23 PM.
