Finance 101 – Lying With Statistics
There’s an old saying “There are three kinds of lies: lies, damned lies, and statistics”. Whilst its true that numbers don’t lie, they can be misrepresented in a myriad of ways to suit any agenda.
The most pervasive form of statistical deception is known colloquially as chart crime, whereby charts are adjusted to support the author’s agenda. The charts below show the exact same data, however the Y axis has been manipulated to downplay or emphasise weakness in the AUD since last year.