Statistical Stupor

The availability of statistics has made the appraiser’s life much easier over the last ten years. But good access to data does not ensure good analysis. My friend, appraiser Robert Pichette (Real Estate Appraisal Associates, West Milford, NJ), sent this along:

“He uses statistics as a drunken man uses lamp posts – for support rather than for illumination. ” – Andrew Lang.

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