Quote:
Originally Posted by jogsxyz
Individual lifespans is not a tight cluster. Everyone isn't dying within 3-5 years of life expectancy. When one country's life expectancy is one year longer than another country's, we shouldn't attach too much significance to that number. It's just a rounding error.
One again, how much money do you think life insurance companies would lose if they used Japanese mortality tables to price american life insurance policies?
It's not a rounding error, it's significant.
You're equivocating between the standard deviation of a population and the amount of error on the mean. E.g, you can have one population with average 60 and standard deviation 10, another with average 61 and standard deviation 10, and these populations are different. Now suppose that the only way you can get the average for each population is by sampling from them, and you take 10 million people from the first population and 10 million from the second. You would confidently be able to say that they have different mean values (and hence the two populations that you are sampling from are different) despite both having a large standard deviation.
So go take a ****ing stats course.