RE: Statistical illiteracy

[Wuensch, Karl L]

I came across a table of costume jewelry at a department store with a sign that said "150% off. "  I asked them how much they would pay me to take it all off of their hands.  I had to explain to them what 150% meant, and they then explained to me how percentages are computed in the retail trade:  first we cut the price in half (50%).  Then we cut it in half again.  Now we have cut it in half a third time.  50% + 50% + 50% = 150% off.   -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] Sent: Friday, December 14, 2001 12:44 AM To: [EMAIL PROTECTED] Subject: Re: Statistical illiteracy .... (Just bragging)   I received a credit report telling me that my rating was higher than 100% of the persons who received them.   You can't imagine how proud and happy I was to learn that my rating was even higher than my own.