the art of statistical thinking

mind-and-cognition

• Many practitioners of statistics do not understand the nature and extent of the problems. Their textbooks tell virtually nothing about the problem.

  VLA-384A1F6A-RC-049

• Statistical decisions are being made using the null ritual in a mechanical and mindless way, leading to incorrect decisions that could be highly costly.

  VLA-384A1F6A-RC-057

• The replication rate in scientific research is less than 50%. A statistical study cannot be replicated by other researchers in most cases.

  VLA-384A1F6A-RC-043

education-and-formation

• In statistics, unfortunately, they teach the level of significance to be set at a conventional level—we need a new standard of statistical evidence.

  VLA-384A1F6A-RC-032

• A massive sample size did not help, since it further magnified the bias. This is a classic example of how random sampling is important.

  VLA-384A1F6A-RC-053

work-as-meaning

• You are facing uncertainty in your investment decisions, and you should learn how to make a well-informed decision under this circumstance.

  VLA-384A1F6A-RC-003