N=1 isn’t a good sample number

When making decisions it’s important to make sure the sample size of the historical data is large enough.

Using a sample of 1 to make your decisions is quite dangerous. It’s too easy to assume that this one sample is representative of all and there is no basis for this.

If you want to make decisions based on historical data, make sure your sample size is large enough to make the data relevant.

Have a great day!

Lawrence

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