Statistical rules of thumb Gerald van Belle
Publisher: Wiley

Statistical neglect – instead of subjectively assessing small probabilities and continuously updating them, people choose to use rules-of-thumb (if any heuristics), which can introduce systematic biases in their decisions. Statistical Rules of Thumb - Books24x7.com - Referenceware for Professionals: "Being proactive does not imply perfection. Statistical Rules of Thumb - Books24x7.com - Referenceware for Professionals. Some other small sample rules of thumb like the “flip flop” test and “shortfall less than 1” rule were also considered, but didn't seem to be given substantial weight. System (BOG), Poole presented a reactive rule of thumb that he argued could serve as a robust guide to policy decisions (Poole, 1971). Another standard hard science method is statistical inference. Proponent of rules of thumb for monetary policy. Here are some rules of thumb I've compiled for graduate students studying applied statistics: * Consider the underlying science. (Remember the sampling statistics rule of thumb of 2=4 that I have explained before wherein a halving of confidence interval error rate, say from 3% to 1.5%, requires a quadrupling of [] Reply. 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. The interesting scientific questions are not always questions statistics can answer. Nearly four decades ago, as staff economist at the Board of Governors of the Federal Reserve.