It's normally like this

If statisticians have added anything to human knowledge, it is their insight about what you normally find when you look into a bucket of numbers. In case you are unfamiliar with this, I will elaborate. It is a masterpiece of observation. But do not dismiss it lightly. It provides a great tool for understanding present and future events that affect your business.

It allows you to say with confidence, I am 95% certain that sales will be between $80 000 and $100 000. There is only a 12% chance that R&D will fail to deliver (you must have excellent boffins). There is an 80% likelihood that profits will exceed $5 million. And so on. You can use this tool to qualify any such statement. First, the mechanics. Remember, this is ...

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