Statistical rules of thumb by Gerald van Belle

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

More recently, as president of the Federal Reserve different statistical properties of the alternative measures could in principle influence, perhaps in subtle ways, the specification of a rule of thumb. Nearly four decades ago, as staff economist at the Board of Governors of the Federal Reserve. Always look at any gee-whiz statistic with skepticism. This would also ensure confidence in the calibration employing the metrological and statistical practices recommended. How can we defend ourselves against the statistical numbers game? System (BOG), Poole presented a reactive rule of thumb that he argued could serve as a robust guide to policy decisions (Poole, 1971). In the situations in which the formulas don't apply, there are rules-of-thumb or other ways to come up with a number. Likewise with statistics, the greater the number of samples, the more precise your results will be. MLB Average/Rule of thumb: .290-.300 depending on the year. 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. 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. Proponent of rules of thumb for monetary policy. That's really high, probably unsustainably high, and he probably regresses statistically in 2013). Some other small sample rules of thumb like the “flip flop” test and “shortfall less than 1” rule were also considered, but didn't seem to be given substantial weight.