Archive for March 24th, 2020

Pelosi’s coronavirus prescription…

March 24, 2020

Senator Tom Cotton’s provides a summary of Pelosi’s 1,400 page counter-proposal to save us from this terrible pandemic.

It’s ‘must-see TV” … well worth 5 minutes.

click to view 5-minute CSPAN video clip

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Items covered:

  • Bailing out the USPS
  • Corporate board diversity targets
  • Early & same day voting
  • National minimum wage
  • Enhanced retirement benefits for newspaper employees
  • Allowing Fed employees to do union work “on the clock” and get paid (by taxpayers) for it.
  • Bail out funds to cities (whether impacted by coronavirus or not)

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The power of anecdotes…

March 24, 2020

Trump & Cuomo have jumped aboard the Hydroxychloroquine train, spurred on by pop-docs like Dr. Oz.

Dr. Fauci is “hesitant” because there haven’t been scientifically-pure randomized controlled clinical studies …  just “anecdotal evidence”.

Memo to Dr. Fauci: Don’t underestimate the “power of anecdotes” in shaping decision-making and public opinion.

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In my Business Analytics course, I had students read a couple of excerpts from a book called Think Twice: The Power of Counter-intuition by Michael Mauboussin.

In a chapter called “The Outside View” the author reports findings from a medical study that investigated the relative importance of hard data and anecdotal evidence when patients select from among treatment options for serious health conditions.

Patients were given the hard scientific data about a treatment‘s success rates and an anecdote about a case history.

Some anecdotes were positive (the treatment was a success), some were negative (the treatment failed or had complications), and some were neutral (neither a clear success nor a dramatic failure).

Below is an extract of the study’s results summarizing the percentage of respondents selecting a treatment given the hard data on its success rate and a related anecdote of a specific case’s outcome.

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Let’s drill down …

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March 24: COVID Tracker

March 24, 2020

Worldometer Daily Top Line

582 Total Deaths to Date

140 Daily New Deaths

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JHU Daily Top Line

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