Statistical significance is a critical concept in data analysis and research. In essence, it’s a measure that allows researchers to assess whether the results of an experiment or study are due to ...

Stephen Ziliak of Roosevelt University and Deirdre McCloskey of University of Illinois at Chicago have done the world of academic research the greatest, but least welcome, of favors. In their book, ...

The books Lies, Damn Lies, and Statistics (Wheeler, 1976) and Damned Lies and Statistics (Best, 2001) have raised questions about whether statistics can be trusted. A number of educated people today, ...

In science, the success of an experiment is often determined by a measure called “statistical significance.” A result is considered to be “significant” if the difference observed in the experiment ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

In the middle of the 20 th century, the field of psychology had a problem. In the wake of the Manhattan Project and in the early days of the space race, the so-called “hard sciences” were producing ...

The perennial question facing all banks is, “What volume of lending in Majority-Minority census tracts and mortgages extended to minority home borrowers must we do to avoid redlining allegations by ...

“One Guinness, please!” a customer says to a barkeep, who flips a branded pint glass and catches it under the tap. The barkeep begins a multistep pour process lasting precisely 119.5 seconds, which, ...