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Wednesday, August 28, 2013

Tautologies At Work


From the 'Everyday math' Dept.:

Ever wonder how it is that every auto insurance company that contacts you claims they can save you $500/yr.? Presh Talwalkar wondered, and explains in his latest "Mind Your Decisions" post:

http://tinyurl.com/o9ls4ms

(...basically an insurer CAN save you $500 IF, by switching to them, you will save $500 ;-) otherwise known as 'selection bias' in advertising*)

* "advertising" -- otherwise known as propaganda


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