Statistics By Jim

The mean is one of the first statistics most people learn. Add the values, divide by the number of observations, and you have the average. It is simple, useful, and mathematically well-defined. But the mean can mislead you. But a mean is only one way of summ...

Larger sample sizes are generally a good thing in statistics. As the

Statistical methods often provide exact formulas for answering questions about data. However, sometimes you just need a quick estimate, a rough benchmark, or a way to determine whether a result seems reasonable. Statistical rules of thumb can help. These shor...

Regression models can range from remarkably simple to highly complex. You might begin with a few independent variables and then add additional

It’s tempting to jump directly into regression analysis and skip the exploratory data analysis (EDA). You have a dependent variable, several independent variables, and software that can fit the model in seconds. Why not start there? Because problems...