Adam Terry
Math is inevitable in the world of business.
Statistics, data, demographic data – all are important tools in the arsenal of modern business, and they’re potent when used correctly.
This is just as true for cannabis as any other business, but surprisingly few entrepreneurs and executives that I meet are well-versed in statistics or calculus, regardless of their supposed focus on data.
As someone with essentially a fancy mathematics degree, I’m writing today to dish out a little lesson in basic math – the calculation of an average and how that impacts cannabis marketing.
Rapid growth
First, let’s look at the overall cannabis market today to establish a baseline fact I think anyone reading MJBizDaily already believes: The marijuana market is growing rapidly.
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According to an August 2021 Gallup poll, 12% of adults in the United States say they currently smoke cannabis, up from 7% in
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