On: Be careful how you average – a retail example

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Stanford's Sam Savage has written an excellent book on the topic of disaggregating average data and mistakes made from using averages. Here's a summary of the book on his website: http://www.stanford.edu/~savage/flaw/

and here's a link to his book, titled The Flaw of Averages: http://www.amazon.com/Flaw-Averages-Underestimate-Risk-Uncer...

[Evbn → simulate]

Cool book, but sad that the public on average seems hopeless at understanding that variance exists.