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Statistical rules of thumb by Gerald van Belle

Statistical rules of thumb Gerald van Belle ebook
Publisher: Wiley
ISBN: 0470144483, 9780470144480
Format: pdf
Page: 305

Not even the most brilliant statistician can instantly recall every rule and concept that forms the daily bread of statistical work. If you want to read more about calculating your ideal samples size, try and google for statistical power and required sample size. Rules of thumb can be very helpful, but they are often pretty coarse. 6- Never let a day go by without studying the changes in the prices of all available trading instruments. You will build an instinctive inference that is more powerful than conventional statistics. 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. Careful application of the Income Approach explicitly relates the rule of thumb metric to equity cash flow and accounts for company-specific risks in the discount or capitalization rate. As someone who uses statistical models to do the kind of forecasting he seems to be proposing, I couldn't help but wonder: Why stop halfway? This may lead to a That is true, provided we have a sample size sufficient for statistical confidence and that there has been no material change in the industry that invalidates historical price / sales multiples. Taleb's rules of thumb on trader risk management, which I have quoted in full below. Praise for the First Edition: "For a beginner [this book] is a treasure trove; for an experienced person it can provide new ideas on how better to pursue the subject of applied statistics." —Journal of Quality Technology. This workshop will use iNZight visualisation tools and other simulation activities to build a conceptual understanding of margin of error, and the “rules of thumb” for testing claims in statistically-based reports. The problem with rules of thumb is. My fascination with his ideas led me to DerivativesStrategy.com which published Mr. Statistics-in one handy reference. 7- The greatest inferential mistake: "This event never happens in my market. As a general rule of thumb, the more biological replicates you have, the better your statistical confidence will be.