A group of tourists was visiting a dinosaur museum. A guide was entertaining them with interesting trivia about various dinosaur species. Just when they were passing by a huge skeleton of an ancient carnivore, an inquisitive member of the tourist group asked the guide, “How old is this skeleton?”
“Oh, that big T-rex skeleton? It’s about 100 million and 5 years old.” quipped the guide.
“That’s quite an odd figure. I understand the 100 million part but how are you so sure about the last 5 years?”
With all earnestness, the guide replied, “Well, that’s the most accurate part of the figure because exactly 5 years ago a world famous expert on dinosaurs told me that the skeleton is 100 million years old.”
The guide was honest in his attempt to provide an accurate information but he confused accuracy with precision. His answer was precise but was it really accurate? In fact, a better question to ask would be – did the guide make expert’s answer anymore useful by making it more precise? I think no.
Sir John Maynard Keynes said, “Better roughly right than precisely wrong.”