1 - 10 of 11 Chapters
[Decision making can be regarded as a process which results in the selection of a course of action from among several alternative courses of action. Every decision making process produces a final choice, or decision.]
[There are four very important facts about nonparametric statistics, and all statistics in general.]
[Information is a source of learning. But unless it is organized, processed, and available to the right people in a format for decision making, it is a burden, not a benefit.]
[One accurate measurement is worth a thousand expert opinion. Grace Hopper (1906–1992) Navy Rear Admiral, computer pioneer, coined the term “computer bug”]
[A variable is a name or symbol for the identification of any unique population characteristic that is subjected to statistical analysis. A random variable has its value determined by a random chance event, the conduct of a statistical experiment, such as sampling. A variable and random variable...
[All probabilities are 50%... either something happens, or it doesn’t!]
[The only relevant test of the validity of a hypothesis is comparison of its predictions with experience.]
[There are two possible outcomes: if the result confirms the hypothesis, then you’ve made a measurement. If the result is contrary to the hypothesis, then you’ve made a discovery.]
[One way to think about play, is as the process of finding new combinations for known things...]
[Measures of association provide a means of expressing the degree or amount of association between two variables, typically named X and Y. Many measures of association are constructed to return values between ±1 (perfect association) and 0 (no association). The closer to 1, the “stronger” the...
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