Missing the Outside view. Where is risk modelling in Dentistry?
My wife and I are presently in the market to buy a house. A recent visit to an open home prompted the discussion on how to fairly price a given property. There is a subjective element of course, but pricing based on location, number of beds, baths and car spaces seem to be the logical and intuitive first step for calculating price. What does the median 4 bed, 2 bath, 2 car house sell for in the same post code? This is an ‘outside view’ way to calculate an uncertain figure. Law of large numbers means a data driven approach gives you the best odds of being in the ballpark.