This principle is one of many in a series of principles taught by Marshall Thurber

Theory

  • There is no true value of anything
  • By what method is value measured?
  • By what method is value observed?
  • There is instead a figure that is produced by application of a master or ideal method of counting or measurement.
  • Repetition of an experiment or of a count will exhibit variation.
  • Law of Value: Your true worth is determined by how much more you give in value than what you take in payment.
  • Adding value

Learning

  • We need to set expectations about data.
  • When a customer purchases something the product or service that I am ppurchasingis more valuable to me than the money I am exchanging for it.

Examples

  • No true value of the number of inhabitants within the boundaries of Detroit.
  • A count of the number of inhabitants of Detroid is dependent upon the application of arbitrary rules for carrying out the count.
  • Change in the method of measuring the speed of light produces a new result.

 

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