Wednesday, July 29, 2020

Figures/Facts

         Many years ago, I heard a story concerning a financial dilemma that I’d like to share with you now.

     There were three men traveling together on a trip and stopped for the night at a roadside motel.  They each wanted their own room so the desk clerk made the assignments and charged them $10 each for the night for a total of $30.  After the men had paid their charges, they went to get settled in their rooms.  The desk clerk realized that on that particular night the motel was having a special on the rates and he had overcharged the men for their rooms.

     Calling the bellhop, he gave him 5 one-dollar bills and told him to return the money to the men as an overcharge.  As the bellhop was going to the rooms, he was trying to calculate how he was going to return the money to the three men when he had 5 one-dollar bills.  As he got to the rooms, he explained to each man that the desk clerk had forgotten about the special rate for the night and they had been overcharged.  He gave each man $1 and kept the other two for himself.  

     Let’s look at the math:  Each man had paid $10, but he was given a $1 refund.  So, his net payment was $9.  If we take $9 times the 3 men, we get $27.  We add the $2 the bellhop kept and we get $29.  What happened to the other dollar?

     You can play that one out in your mind for a while.  But it goes to show that figures don’t lie, but liars’ figure!  The secret to the correct answer to the problem above is that the men didn’t pay $9 each!  It’s only presented that way with our sly calculations!

     Another consideration about the reliability of figures is how they are reported to you.  Consider this little story.

     One year there was a huge international car race held in Russia.  Because of the current political situation at the time only the United States and Russia placed entries in the race. As the story is told the United States had no difficulty in beating the Russian car. 

     However, the reporting of that event was very interesting.  Both a United States major newspaper and the Russian national paper reported on the event.  Both papers report the facts of the event; however, the manner in which the details were reported made a huge difference in the impression that people got!

     The United States paper reported as follows: “The United States vehicle entry in the international race held in Russia concluded with the US car in first place.  The Russian vehicle place last.”

     The same race in the Russian paper was reported as follows: “After the big international race held in Russia, the Russian vehicle came in 2nd place, while the American car was next to last!”

     You can see that at times EVERYONE can be reporting the FACTS, but they can be putting their own slant on the material and giving a completely different implied understanding.

     Why do we do these types of things?  Because it is our human nature to want to make ourselves look better or if that is not possible, to make our competition look worse!  It all boils down to the fact that we’re only human!

    

QUOTE TO CONSIDER


THOUGHTFUL GEM

"Misquote the facts often enough
and anyone will believe them."





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