Knowledge and Wisdom -- Rick often opens seminars with the definition of knowledge and wisdom. He says, "Although I do not have a membership in Mensa, the excellent  organization that recognizes the top 2% of the nation's most intelligent people, I seemingly have sufficient knowledge/wisdom with deductive and inductive thinking -- so to speak -- to understand that 'gifted' brain power is not always the pathway to proper conclusions. I watched a 'gifted' person fail miserably on a TV quiz show not because that person was deficient, but although 'gifted' brain power involves superior thinking ability, it is not a guarantee that a person has a reservoir of facts and experiences regarding a particular field of knowledge.' That is my opinion.'"

"Knowledge is gained -- whether formally or informally -- through gathering of facts and through credible experiences.  Wisdom is the ability to draw logical conclusions and inferences from knowledge, and/or experiences: yours or other people's. You may have a high IQ and are quite intelligent and skilled, but don't mistake intelligence for wisdom to enable accomplishment; knowledge and wisdom  accumulated from what you learn and apply actively in your life and work will be the chief factor which will help guarantee your success. "

"In summation --  many people who are educated both formally or informally, often draw conclusions without carefully procuring or examining the facts.   Without solid facts, the ability to draw 'sound' conclusions is limited.  And above all -- as my 'gifted' brother once cautioned me when I was a teenager, "Unless you are absolutely certain of your facts, don't state them as true, state them as your "opinion.'"
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What a logical inference is --  something that is inferred especially : a conclusion or opinion that is formed because of known facts or evidence -- Websters Dictionary. By way of illustration, imagine a car factory wherein every 30 minutes the doors to the new car parking lot open, and a finished new car rolls off the assembly line and is parked  with the other newly assembled cars, While standing there, watching new cars roll out the doors, and after watching newly assembled cars roll out the doors every time they open, what will you expect will role out the next time the doors open? 

You won't know for certain what will roll out next time the doors open, but you can draw a logical inference based on the known facts, which you have observed so far, These facts or evidence will cause you to expect the next vehicle to roll out the doors will also be a car, not a  bus.  The inference, as we refer to it, is  if a procession of cars roll out the doors time after time, it normally is inferred, the next vehicle to roll out the doors will also be a car. That is a logical inference. This application can be applied to many repetitive occurrences and/or processes -- whether it be behavioral, manufacturing production, scientific, or other generated processes, et. Al. Logical inference often aids persons to have a reasonable, logical ability to predict happenings or come to reasonable conclusions based on previous known facts or evidence. Is it failsafe? No, but the probability exists. Logical inference is used to anticipate winners and losers in a wide range of happenings from stocks. bonds, Nascar and other racing, surgical procedures under credible specialists and a multitude of other applications too numerous to mention. BUT be certain of your facts and/or observations  before forming an inference!!  ~ Dr Rick Lawrence