In the given quote, Barbara Corcoran describes a scenario where she compiled sales data from eleven transactions over six months and calculated an average price for apartments sold in Manhattan. She then presented this average as indicative of the typical cost of a Manhattan apartment to the media. This action highlights how one can manipulate statistics to create a specific narrative.
The deeper meaning of Corcoran's statement touches on the broader issue of data manipulation and the impact it has on public perception and decision-making. By carefully selecting and averaging a small dataset, she was able to craft an average that might not accurately represent the overall market but would certainly attract attention from the media and potentially influence real estate buyers and sellers. This illustrates how averages can be misleading when they do not account for the full range of data or market conditions. It also underscores the importance of critically analyzing statistics presented in news reports and other public forums.
Barbara Corcoran is a renowned businesswoman, television personality, and author known for her expertise in real estate and entrepreneurship. She gained significant recognition as one of the original investors on the reality TV show "Shark Tank," where she frequently offers sage advice to aspiring entrepreneurs looking for investment. Her quote reflects not only her acumen in sales and marketing but also her understanding of how data can be used strategically to shape public opinion and drive business success.
