The key goal of Survival Math for Marketers is a solution to a common problem in business - namely, the lack of mathematics know-how among many business students and practitioners. There is an untapped ‘latent demand’ in the marketing world from many people whose careers have been - or will be - thwarted because the math ‘haves’ dominate the ‘have nots’. This book as an easy, fun, and inexpensive solution to this age-old problem.
Survival Math for Marketers is designed to be a useful book for introductory marketing courses. It is clearly written, filled with good examples, illustrations and makes entertaining reading.
Chapter Two: Figures Never Lie, but Liars Figure
Figures Never Lie, but Liars Figure
It's Absolute and Definite (Maybe), Part II
The old saying I borrowed to name this chapter accurately describes the use of accounting techniques in an organization, with one addition: People who aren't liars also figure.
We are observing a hiring situation. Three candidates apply for a position as chief financial officer (CFO). They are each asked the same question as part of the interview: “How much is 2 plus 2?”
Candidate A replies “4,” and is told they'll get back to him.
Candidate B has studied statistics and knows the world is not exact. He replies, “Between 3.9 and 4.1; give me a moment and I'll calculate the standard deviation.” They'll get back to him, too
Candidate C gets ...