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Convert Opinions into Facts

 

Convert Opinions into Facts

Pg.69 : Seneca : Letters from a Stoic

People trust and attach to opinion rather than looking into Facts; rather than testing out their opinions;

Why? Because fact assessment takes guts ; Fact assessment takes effort.

And when it comes to dealing with others , you can give out opinions but you cannot convince enough;

If there is one take away from my MBA course: it is the following:

 However good your opinion may sound – its not good enough – unless you test it out

So I am proposing a opinion tester tool that the statisticians use :

  1. Take the opinion
  2.  Form Null and Alternate Hypothesis

a.       Alternate Hypothesis : What you think is true? - Ex., I have to buy that Property due to it potential value increase in 5 years

b. Null Hypothesis : Not enough data to prove Alternate Hypothesis 

3. Collect Data

4.Do the experiments to verify 

5.Prove / Fail to prove Alternate hypothesis

Opinions are merely pet-peeves or quibbles , unless you test , test and test!

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