I'm currently in New Zealand - hence the smaller number of posts recently - and I came across the following example of a "best before" date on the lid of a jar of marmalade:
Unfortunately, we see the same sort of silliness when it comes to reporting the results of econometric analysis. We see researchers using data that are accurate to (say) one or two decimal places at best, and then reporting estimated regression coefficients, standard errors, p-values, and various diagnostic test statistics to four or five decimal places.
This is just spurious precision, and a waste of everyone's time.
© 2011, David E. Giles