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Statistical rules of thumb Gerald van Belle
Publisher: Wiley

A week ago, I showed you the risk profile graph for our 10K Bear portfolio. Gerard van Belle's Statistical Rules of Thumb has piqued my curiosity at conferences. None of the three seem to follow the rule with any sort of consistency but they are all in the ballpark of the rule, but not by much. Likewise with statistics, the greater the number of samples, the more precise your results will be. Last week was the worst week for the market in over two months. It turns out my work library has a copy, which has been fun to skim, or should I say, to thumb through. I won't argue the specific merits of the Berkeley study with you, statistical analysis of sociological studies is not my area of expertise. So statistics can play a very useful role in testing these rules of thumb, and sometimes things which you think are working are not actually working. That's not a substitute for judgment. Download Statistical Rules of Thumb Wiley Series in Probability and Statistics by Gerald van Belle – 5 Star Review PDF Summary: Good scientists learn early on not to do everything by the book. With five minutes to speak to the publishers of many of the top science journals, I tried to distill the lessons learned about scientists and social media to a short set of “rules of thumb.” I was not surprised at all when the panel of scientists at the end of the day .. (Remember the sampling statistics rule of thumb of 2=4 that I have explained before wherein a halving of confidence interval error rate, say from 3% to 1.5%, requires a quadrupling of [] Reply. In the situations in which the formulas don't apply, there are rules-of-thumb or other ways to come up with a number. Sensibly organized for quick reference, Statistical Rules of Thumb, Second Edition compiles simple rules that are widely applicable, robust, and elegant, and each captures key statistical concepts. But that's a complement to judgment. Despite decades of careful data collection and mathematical and statistical research, on many large questions we have little more than rules of thumb. This would also ensure confidence in the calibration employing the metrological and statistical practices recommended. Testing A Statistical Rule of Thumb. The numbers will follow but here are some takeaways (I didn't do any statistical analysis, this is just me eyeballing numbers and drawing conclusions that are probably not statistically significant): The rule of thumb is certainly good in terms of rules of thumb, I wouldn't follow it to the ends o f the Earth but it's definitely better than nothing.