At times we wish to examine statistical evidence, and determine whether it supports or contradicts a claim that has been made (or that we might wish to make) concerning the entire population. This is ...

Objection: Natural variability is the null hypothesis; there must be compelling evidence of an anthropogenic CO2 warming effect before we take it seriously. Answer: The null hypothesis is a ...

In the early 20 th century, Guinness breweries in Dublin had a policy of hiring the best graduates from Oxford and Cambridge to improve their industrial processes. At the time, it was considered a ...

Statistics is to science as steroids are to baseball. Addictive poison. But at least baseball has attempted to remedy the problem. Science remains mostly in denial. True, not all uses of statistics in ...

In the Neyman-Pearson theory of hypothesis testing it is customary to calculate significance levels and power functions on the assumption that the sample size is fixed. The main purpose of this paper ...

Aggregate supply equations are estimated using four alternative methods to segment the output price variable to measure short-run response of farm output to increasing and decreasing prices. Null ...

Having data is only half the battle. How do you know your data actually means something? With some simple Python code, you can quickly check if differences in data are actually significant. In ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...