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by drawnwren
2908 days ago
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Yes. To go along with this, the other misstep I see frequently is the inability to differentiate between statistical distributions and the individual. Your friend dropped out of college to become a carpenter and is now worth $100m? That's incredible. I'd take fairly bad odds that the P(Salary>$!00k|Dropped out of college to become a carpenter) is lower than P(Salary>$100k|Graduated with 4.0 gpa). It would be harder to statistically analyze, but I'd take even worse odds that the fellow who dropped out of college would not be too much worse off if he had stayed and graduated with a 4.0. IMO, the cost of a high gpa is fairly low. |
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> the most financially successful people I know had mediocre college grades
is saying something about p(mediocre grades|successful) i.e. among the people I know who are successful, a surprising number had bad grades.
where the interesting question, given the chronology of the two events is, as you point out, p(successful|mediocre grades)