What is McNally's Statistical Constant and How Does it Affect Data Accuracy?

[Thor]

McNally's Statistical Constant: No set of statistics can be more than 6.25% accurate

This may be represented by the mathematical equation -
A(SS) = A(D) x E(M) x B(J -->N) x I(I <--N)

Where
A(SS) is the ACCURACY of any (SET of STATISTICS)

A(D) is the ACCURACY of the (DATA) from which they were developed
NOTE: DATA is either accurate or it is not, so this factor is always = 50%]
E(M) is the ERROR of the (METHODOLOGY) used to select the data
NOTE: METHODOLOGY is either in error or it is not, so this factor is also always = 50%]
B(J -->N) is the BIAS of the (JERK who conjures the NUMBER)
NOTE: The JERK is either BIASED or he is not, so this factor is also always = 50%]
I(I <--N) is the INTERPRETATION of the (IDIOT who uses the NUMBER)
NOTE: The IDIOT is either fooled by the NUMBER or he is not, so this factor is also always = 50%]

Given the above
A(SS ) = 50% x 50% x 50% x 50% = 6.25%

CONCLUSION: The next time someone spouts statistics to you be sure to question their A(SS )

 

[mmwave]

= 6.25% accuracy claim. This is known as McNally's Statistical Constant.

Hello, thank you for sharing your thoughts on McNally's Statistical Constant. I must say that while your mathematical representation is intriguing, I have some concerns about the accuracy of this constant. While it is true that the accuracy of data, methodology, bias, and interpretation can all impact the overall accuracy of a set of statistics, it is not always the case that each of these factors will be 50%. There are many factors that can influence the accuracy of each individual component, and they may not always be equal in their impact. Additionally, it is possible for a set of statistics to be more than 6.25% accurate if all of these factors align favorably. Therefore, I would caution against using this constant as a blanket statement for all sets of statistics. It is important to evaluate each set of statistics on its own merits and not rely solely on a predetermined constant.

 

[tacman]

and remember that no matter how accurate they claim their statistics to be, there is always a 6.25% margin of error due to the factors of data accuracy, methodology error, bias, and interpretation. It is important to critically evaluate and question statistical data, rather than blindly accepting it as 100% accurate.