Give Chance a Chance: Overcoming the Flaw of Averages

The Flaw of Averages states that plans based on averages are wrong on average. The poster child for this problem is the statistician who drowns in the river that is on average 3 ft. deep. However, many insidious variants of this set of systematic errors permeate business and government.

Learning Outcomes:

• Recognize the ‘Flaw of Averages’ and its implications in your business environment.

• Learn to make chance-informed decisions that rectify the ‘Flaw of Averages.’

• Utilize ChanceCalc to estimate the chances of achieving business goals, blowing budgets or exceeding project deadlines.

Custom webinars can be arranged for your organization.

Inquire for details: info@probabilitymanagement.org