ABOUT THE BOOK

The flaw of averages also ensures that plans based on averages of such uncertainties as customer demand, completion time, and interest rate are below projection, behind schedule, and interest rate are below projection, behind schedule, and beyond budget. In this book, savage draws on recent breakthroughs in technology, along with new data structures and management protocols, to offer an approach to curing the Flaw of Averages. In the book’s final section, savage reveals current development in the emerging field of probability management-a path towards increased transparency and a potential cure for the Flaw of averages. Finally, the book includes a Red Word Glossary that defines statistical terms in plain English to assist readers in defending themselves against those wielding technical mumbo jumbo. The goal of the flaw of averages is to help you make better judgments involving uncertainty and risk, both when you have the leisure to deliberate, and, more importantly, when you don’t. Its approach of a more transparent representation of uncertainty is helping people and some big companies to make better decisions today.