Not Enough Meaning
We tend to find stories and patterns even when looking at sparse data
Insensitivity to sample size
Description
A cognitive bias that occurs when people judge the probability of obtaining a sample statistic without respect to the sample size.
Insensitivity to sample size in business decision
A marketing team draws strong conclusions about overall customer preference based on feedback from a very small focus group, ignoring that a small sample isn't representative.
Insensitivity to sample size in personal life decision
After tasting two out of a box of 50 chocolates and finding both bitter, you decide the entire box is bad.