No Free Hunch: A small Set of Economics and Stats Experiments for Peasants
Hunches
Experiments
Important
Have you got money? Open your wallet and show me how much. Guys and Gals. Will this work in these UPI days? And well-dressed Gals don’t have pockets in their clothing, uncle… So then ask “How much did you spend today?” Again, Guys and Gals.
And then a two independent sample test for means. And Permutation and all that stuff.
Important
Are vegetarians more kanjoos? Or it is the meat-eaters?
So Swiggy/Zomato/Dining Out bills. For both sets of people. And then the t-t-t-t-t-test…
Important
So? Grades of course, for a good sample from all three groups of people..and then? ANOVA of course.
Important
The Anywhere Door makes Doraemon the greatest children’s show on earth. But Dragon Tales also has that Dragon Stone thingy…“I wish, I wish..”
And that flute musical in Chhota Bheem…Uff!
So? Get Opinion scores from people. Scale of 10. And then? Oh, ANOVA, peasants!
Important
What are we looking at, data-wise? A proportion, which if more than 50% would justify our hunch. So we do an MBTI on some unsuspecting sample of people, and try to generalize that result to the population.
Important
Again, a survey of a sample. Opinions, yes or no. A Proportion for the sample, and an extension to the population. A proportion test.
References
- Facing the Abyss: How to Probe Unknown Data. https://shancarter.github.io/ucb-dataviz-fall-2013/classes/facing-the-abyss/