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Statistical rules of thumb by Gerald van Belle

Statistical rules of thumb Gerald van Belle ebook
Publisher: Wiley
Format: pdf
Page: 305
ISBN: 0470144483, 9780470144480

Well, the AIAG – Automotive Industry Action Group – has an SPC – Statistical Process Control – manual that actually establishes all those rules. Nearly four decades ago, as staff economist at the Board of Governors of the Federal Reserve. System (BOG), Poole presented a reactive rule of thumb that he argued could serve as a robust guide to policy decisions (Poole, 1971). So we're closely just following the same rules of thumb here. He noticed that his average 800m Burfoot doesn't seem to have done any statistical analysis, or even any research other than asking a few running buddies about their workouts and marathon times. Despite decades of careful data collection and mathematical and statistical research, on many large questions we have little more than rules of thumb. Whether or not you know how to use statistical tools, this is a good rule of thumb because the fact is, you never know everything that's going on. More recently, as president of the Federal Reserve different statistical properties of the alternative measures could in principle influence, perhaps in subtle ways, the specification of a rule of thumb. Proponent of rules of thumb for monetary policy. While reading Bart Yasso's My Life on the Run, I came across his predictor for marathon times, "Yasso 800s." Yasso was in the habit of doing a 10 x 800m track workout; his rest in between each item was a 400m jog. Some of your assumptions about your system are always wrong.