Saturday, 22 September, 2007

70% are businessmen

I won’t have believed this had I not seen this.

One of India’s largest companies did a customer ‘survey’ for one of their new brands. The largest proportion in the finding was 70%: 70% of the buyers who agreed to be surveyed were businessmen.

The upper confidence level for that fraction (at 95% confidence level) is 90%; the lower confidence level is 50%; the figure is meaningless.

Yet this company will use this to take decisions involving tens of thousands.

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