The Counterfactual • 199 implied HN points • 27 Jun 24
- Always look at the whole distribution of data, not just the average. The average can be affected by extreme values, so it's crucial to see the bigger picture to understand what the data really tells us.
- Consider the baseline or reference point when evaluating numbers. Knowing how a number compares to others helps us understand if it's large or small, which gives us better context.
- Understand the story behind the data-generating process. This means recognizing the factors that led to the results we see, which helps in identifying possible biases or alternative explanations.