June 30: Statistics in Practice

In this week’s Brief, the second in our series on statistical thinking, we discuss WWII convoys; our course spotlight is  July 10 - Aug 7: Spatial Statistics for GIS Using R  See you in class! Peter Bruce Founder, Author, and Senior Scientist Statistical Thinking 2  Safety…

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Safety in Numbers – Calculating Probabilities for Convoys

Statistical Thinking 2: Safety in Numbers – Calculating Probabilities for Convoys  Early 1942 was a critical period for the Allies in WWII.  Russia was on its heels, with German armies at the gates of Moscow and preparing an offensive in southern Russia.  Alone among the…

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Polytomous

Polytomous, applied to variables (usually outcome variables), means multi-category (i.e. more than two categories).  Synonym:  multinomial.

June 23: Statistics in Practice

In this week’s Brief, the first in a Statistical Thinking series, we look at how people think about rare events. Our spotlight is on: July 3 - 31: Introductory Statistics (another session starts July 31) See you in class! Peter Bruce Founder, Author, and Senior…

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Student Spotlight: Angelina Salinas

Meet Angelina Salinas, Data Analyst at Almacenes SIMAN Angelina Salinas started working for the retail store Almacenes Siman as a purchasing planner and, a couple of years later, got interested in data science and started to learn R. Shortly afterwards, the business intelligence group at…

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Historical Spotlight: Iris Dataset

Can you identify this wildflower, photographed in a Massachusetts field?  And also identify its significance in the history of statistics?  This is the Blue Flag Iris, also called the Veriscolor Iris, and it is one of three Iris species that make up the famous (in statistics) Iris…

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Rare Event Syndrome

Statistical Thinking 1   Several years ago, an NPR reporter wanted a comment from me for his story about an unusual event: a woman had won a state lottery jackpot for a second time. Winning once was low enough odds, but winning twice?   The reporter found…

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June 16: Statistics in Practice

In this week’s brief we feature a guest blog on Ethical Data Science; our course spotlight is: July 17 – Aug 14: Logistic Regression See you in class! Peter Bruce Founder, Author, and Senior Scientist Ethical Data Science As data science has evolved into AI,…

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Instructor Spotlight: Joseph Hilbe

Joseph Hilbe, a prolific author in the field of statistical modeling, taught a number of Statistics.com courses right up until his death, in March of 2017.  Hilbe was elected as a Fellow of the American Statistical Association; his expertise was in statistical modeling.  He did…

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Ethical Data Science

Guest Blog - Grant Fleming, Data Scientist, Elder Research Progress in data science is largely driven by the ever-improving predictive performance of increasingly complex black-box models. However, these predictive gains have come at the expense of losing the ability to interpret the relationships derived between…

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June 12: Statistics in Practice

In this Brief, we visit the issue of “statistical arbitrage” in financial markets, and spotlight two courses: June 12 - July 10:  Financial Risk Modeling (today) July 10 - Aug 7:  Spatial Statistics for GIS Using R See you in class! P.S.  Our newest course,…

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Statistical Arbitrage

An economics professor and an engineering professor were walking across campus.  The engineering professor spots something lying in the grass - “Look- here’s a \$20 bill!”  The economist doesn’t bother to look.  “It can’t be - somebody would have picked it up.” This old joke…

June 2: Statistics in Practice

Fear of catching Covid-19 dominates the world, so this week we briefly review how humans think about probabilities, in the context of Covid-19.  Prior beliefs figure heavily in probability calculations, so our course spotlight is on:  July 3 - 31:  Introduction to Bayesian Statistics  See you…

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Bayesian Statistics

Bayesian statistics provides probability estimates of the true state of the world. An unremarkable statement, you might think -what else would statistics be for? But classical frequentist statistics, strictly speaking, only provide estimates of the state of a hothouse world, estimates that must be translated…