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Posted On: 05/24/2020 12:24:52 PM
Post# of 148938
Not at all. The point is that we are investing on hunches and anecdotes, which is perfectly fine and natural and makes sense, but it would be malpractice for a statistician to pretend that the current "data" can be the basis of a reliable statistical analysis.
The rest of your comment is spot on. When the data are good enough to do reliable inferential statistics, the $3 days are gone.
$5 or $2? Formal statistics can't tell you much about that. Let other DD be your guide. Learn everything you can, ask a lot of questions, and don't hobble that enormously efficient and powerful engine between your ears be bamboozled too much by wishful thinking, doomsayers, or confident experts who know everything.
The rest of your comment is spot on. When the data are good enough to do reliable inferential statistics, the $3 days are gone.
$5 or $2? Formal statistics can't tell you much about that. Let other DD be your guide. Learn everything you can, ask a lot of questions, and don't hobble that enormously efficient and powerful engine between your ears be bamboozled too much by wishful thinking, doomsayers, or confident experts who know everything.
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