Quotes & Sayings About Statistical Analysis

The 80/20 analysis is a statistical analysis that you can conduct to improve your sales. Research has shown that, for any given event, 80% of the outcome will be due to 20% of the cause. — Grant Kennedy

During the intensive rocket bombing of London in World War II, it was generally believed that the bombing could not be random because a map of the hits revealed conspicuous gaps. Some suspected that German spies were located in the unharmed areas. A careful statistical analysis revealed that the distribution of hits was typical of a random process - and typical as well in evoking a strong impression that it was not random. "To the untrained eye," Feller remarks, "randomness appears as regularity or tendency to cluster. — Daniel Kahneman

The aim of the research is to determine what groups can be drawn up as a result of regular association of place-names. A further step is to consider whether such groups have a geographical significance. This was accepted by Palmer as a reasonable hypothesis; Wilson argued the case for it by considering possible ways in which information to be recorded on the tablets was received by the scribes. Underlying this work is the assumption that groupings may have a geographical basis, but it has still to be shown that this is a reasonable assumption. — Jennifer K. McArthur

Computerized medical records will enable statistical analysis to be used to determine which treatments are most effective. — Temple Grandin

Price mostly meanders around recent price until a big shift in opinion occurs, causing price to jump up or down. This is crudely modeled by quants using something called a jump-diffusion process model. Again, what does this have to do with an asset's true intrinsic value? Not much. Fortunately, the value-focused investor doesn't have to worry about these statistical methods and jargon. Stochastic calculus, information theory, GARCH variants, statistics, or time-series analysis is interesting if you're into it, but for the value investor, it is mostly noise and not worth pursuing. The value investor needs to accept that often price can be wrong for long periods and occasionally offers interesting discounts to value. — Nick Gogerty

For instance, a new kind of rich person named John Henry bought the Florida Marlins in January 1999. Most baseball owners were either heirs, or empire builders of one sort or another, or both. Henry had made his money in the intelligent end of the financial markets. He had an instinctive feel for the way statistical analysis could turn up inefficiencies in human affairs. Inefficiencies in the financial markets had made Henry a billionaire - and he saw some familiar idiocies in the market for baseball players. — Anonymous

Scientists study only those aspects of the universe that it is within their gift to study: what is observable; what is measurable and amenable to statistical analysis; and, indeed, what they can afford to study within the means and time available. Science thus emerges as a giant tautology, a "closed system". It can present us with robust answers only because its practitioners take very great care to tailor the questions. — Colin Tudge

When you get into statistical analysis, you don't really expect to achieve fame. Or to become an Internet meme. Or be parodied by 'The Onion' - or be the subject of a cartoon in 'The New Yorker.' I guess I'm kind of an outlier there. — Nate Silver

None of us are claiming that the statistical analysts understand the game of football as well as the football coaches do, or that our analysis should take precedence over the informed opinions of experts. I'm not saying that at all. — Bill James

Science of yoga and ayurveda is subtler than the science of medicine, because science of medicine is often victim of statistical manipulation. — Amit Ray

The trial designed to bring the most rigorous statistical analysis to the cause of lung cancer barely required elementary mathematics to prove its point. — Siddhartha Mukherjee

Among the current discussions, the impact of new and sophisticated methods in the study of the past occupies an important place. The new 'scientific' or 'cliometric' history-born of the marriage contracted between historical problems and advanced statistical analysis, with economic theory as bridesmaid and the computer as best man-has made tremendous advances in the last generation. — Robert Fogel

That so far the material has been dealt with in a rather subjective way provokes the question whether a means can be found of handling it objectively. [...] This chapter considers the applicability of the statistical tests employed by Wilson and the general problem whether the Linear B data are suited to statistical analysis. — Jennifer K. McArthur

The population is angry, frustrated, bitter - and for good reasons. For the past generation, policies have been initiated that have led to an extremely sharp concentration of wealth in a tiny sector of the population. In fact, the wealth distribution is very heavily weighted by, literally, the top tenth of one percent of the population, a fraction so small that they're not even picked up on the census. You have to do statistical analysis just to detect them. And they have benefited enormously. This is mostly from the financial sector - hedge fund managers, CEOs of financial corporations, and so on. — Noam Chomsky

From empathy and sexuality to science inclination and extroversion, statistical analysis of 122 different characteristics involving 13,301 individuals shows that men and women, by and large, do not fall into different groups. — Christian Rudder

What's the harm of a little mystification? It sure beats boring statistical analyses. — Carl Sagan

Lorenz was the charismatic, flamboyant thinker - he didn't conduct a single statistical analysis in his life - while Tinbergen did the nitty-gritty of actual data collection. — Frans De Waal

If we had enough data then this statistical approach would undoubtedly sort out these things, and a lot of problems are arising precisely because we haven't got enough documents for the statistical approach to be wholly valid. I know you can calculate levels of probability and so forth, but to establish this really clearly we want a lot more information than we have actually got available. This is surely our major problem that we are still at the very limits at which you can use a technique of this sort. - John Chadwick — Jennifer K. McArthur

statistical analysis revealed that the training was responsible for the positive effects. — Shawn Achor

Significance unfortunately is a useful means toward a personal ends in the advance of science - status and widely distributed publications, a big laboratory, a staff of research assistants, a reduction in teaching load, a better salary, the finer wines of Bordeaux. Precision, knowledge, and control. In a narrow and cynical sense statistical significance is the way to achieve these. Design experiment. Then calculate statistical significance. Publish articles showing "significant" results. Enjoy promotion.

But it is not science, and it will not last. — Stephen Thomas Ziliak

The reason for your poor projections is often right in front of you. Whether you are using statistical analysis or just an average, sometimes the way you are calculating your numbers doesn't make any sense. Sometimes it's best to get up, take a walk, and revisit your calculations later. I have returned to my work many times and said: "Why the hell would I calculate it like that?" — Des MacHale

This irrelevance of molecular arrangements for macroscopic results has given rise to the tendency to confine physics and chemistry to the study of homogeneous systems as well as homogeneous classes. In statistical mechanics a great deal of labor is in fact spent on showing that homogeneous systems and homogeneous classes are closely related and to a considerable extent interchangeable concepts of theoretical analysis (Gibbs theory). Naturally, this is not an accident. The methods of physics and chemistry are ideally suited for dealing with homogeneous classes with their interchangeable components. But experience shows that the objects of biology are radically inhomogeneous both as systems (structurally) and as classes (generically). Therefore, the method of biology and, consequently, its results will differ widely from the method and results of physical science. — Walter M. Elsasser

Reducing intelligence to the statistical analysis of large data sets "can lead us," says Levesque, "to systems with very impressive performance that are nonetheless idiot-savants. — Nicholas Carr

No data are excluded on subjective or arbitrary grounds. No one piece of data is more highly valued than another. The consequences of this policy have to be accepted, even if they prove awkward. — Jennifer K. McArthur

The early years of statistical development were dominated by men. Many women were working in the field, but they were almost all employed in doing the detailed calculations needed for statistical analysis, and were indeed called "computers". — David Salsburg

An invaluable little book ... What Makes a Terrorist uses standard tools of economics and statistical analysis to get at the truth about terrorism ... Krueger finds one familiar fact in all his numbers. Countries with fewer civil liberties tend to produce more terrorists. — Daniel Finkelstein