Take it ALL, then!

Reading Time: 1

Sorry to say sometimes we people from market research, analytics, and statisticians alike are sad junkies! I admit it, I enjoy reading professional jokes, and if they are related to economics, finance, or operational research, the better.

But you should not be scared, since our directors will never tell you one (they are bad as worst!). However we should recognise the pedagogic side of jokes, like this one explaining what ‘sampling’ is:

A statistics professor was describing sampling theory to his class, explaining how a sample can be studied and used to generalize to a population. One of the students in the back of the room kept shaking his head. “What’s the matter?” asked the professor. “I don’t believe it,” said the student, “why not study the whole population in the first place?” […] Finally, the professor, somewhat disgruntled with the scepticism, replied, “Well, the next time you go to the campus clinic and they want to do a blood test…tell them that’s not good enough …tell them to TAKE IT ALL!!”

Want to know more about ‘statistical sampling’ and how it can help your business?
[V] YES
[X] No, why bother?