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An early estimate of the case fatality rate was roughly that, but that's a point estimate and it's a case fatality rate. In other words, you take the number of identified deaths and divide by the number of identified cases, possibly with some correction for the fact of right-censoring. A responsible scientist, of course, will try to quantify the uncertainty in this estimate and provide a range of plausible values. Now, an infection fatality rate is different from a case fatality rate: it's the proportion of people infected who end up dying. The number of people infected is going to be larger than the number of identified cases, though sometimes we manage to get very good estimates of this. Very early on in the pandemic, we had the case of the Diamond Princess, with like 14 deaths out of 700 cases and a good bit of confidence that all the infections on the ship were detected. Which yields a point estimate of the IFR of 0.5%. Granted, the demographics of that ship are different from the population as a whole. I'm not sure what sources you were hearing that from early on in the pandemic so I can't comment in more detail. But 0.5% is not a surprising figure.
I agree with you there. I was just saying that it's lower than the percentage I remember originally being quoting was all.
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