"Many scientists in the physical world are also subject to such foolishness, misreading statistics. One flagrant example is in the global-warming debate. Many scientists failed to notice it in its early stages as they removed from their sample the spikes in temperature, under the belief that these were not likely to recur. It may be a good idea to take out the extremes when computing the average temperatures for vacation scheduling. But it does not work when we study the physical properties of the weather — particularly when one cares about a cumulative effect. These scientists initially ignored the fact that these spikes, although rare, had the effect of adding disproportionately to the cumulative melting of the ice cap. Just as in finance, an event, although rare, that brings large consequences cannot just be ignored."