CW 475: How To Lie With Statistics and Ridiculous Correlations with Sara Silverstein of Business Insider

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In today’s Creating Wealth show, Jason first talks about statistics and how so many people use it to manipulate others. He also talks about how there are still a few Meet the Masters home study courses left, so do not forget to order them now while supplies last!

Sara Silverstein joins Jason today on the Creating Wealth show to talk about funny tongue and cheek correlations. She shares a few examples that she has found over the past few months as well as talks about the birthday paradox, the Wizard of Oz, and her next article for Business Insider about vaccines.

Key Takeaways:

1:45 – Jason talks about how you can mislead people with statistics.

8:45 – People self-select for jobs. Jason explains what he means by this.

14:10 – Jason introduces Sara.

17:30 – So many people don’t understand that a correlation does not always mean causation.

22:45 – Sara is combing all of these weird correlations together to show people a very tongue and cheek view of how correlations work.

26:35 – You can take pretty much any two things and figure out a way to make them related.

29:15 – Both Jason and Sara talk about the conflict of interest dilemma.

33:00 – Is Wizard of Oz a story about the gold standard?

34:30 – Sara talks about the birthday paradox.

37:45 – Sara talks about her next upcoming article for Business Insider about vaccinations.

Tweetables:“Conflict of interest is such a huge one and can explain a lot of issues and problems that we see.”

“There’s a lot of surprising things that people assign too much weight to. Sometimes people do well just by chance and we discount that.”

“The free-rider problem is basically people are using a community benefits, but some people are not paying their fair share.”

Mentioned In This Episode:

How to Lie with Statistics by Darrell Huff

Freakonomics by Stephen Dubner and Steven Levitt.

http://www.businessinsider.com/author/sara-silverstein

100 episodes

#Business #Trading #Jason Hartman #Agora Financial #Brian Tracy #Podcasting Education #Ayers