Transcription of A Review of Basic Statistical Concepts - SAGE Publications Inc
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A Review of Basic Statistical Concepts - SAGE Publications Inc
11A Review of Basic Statistical ConceptsThe record of a month s roulette playing at Monte Carlo can afford us material for discussing the foundations of knowledge. Karl PearsonI know too well that these arguments from probabilities are imposters, and unless great caution is observed in the use of them, they are apt to be deceptive. Plato (in Phaedo)IntroductionIt is hard to find two quotations from famous thinkers that reflect more divergent views of probability and statistics. The eminent statistician Karl Pearson (the guy who invented the correlation coefficient) was so enthralled with probability and statistics that he seems to have believed that understanding probability and statistics is a cornerstone of human under-standing.
Chapter 1 A Review of Basic Statistical Concepts 5 assembled a dream team of behavioral economists to help him get elected—and then to tackle the economic meltdown. This dream team relied not on classical economic models of what people ought to do but on empirical studies of what people actually do under different conditions.
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