Tag: statistics

During the final semester of my grad school analytics program, I was tasked with estimating price elasticity for wine. At first glance, this seemed like a simple objective. In economics, I was taught that price elasticity is the percent change in demand given the percent change in price (i.e....

After writing my first review of the OMSA program, I have been contacted by many prospective and current students. Because this program attracts students from a wide variety of backgrounds, providing advice that applies to everyone can be challenging. Below are some of the most common questions I receive...

In every introductory statistics class, you are forced to learn about the basic descriptive statistics — mean, median, mode, and standard deviation. These calculations give you a quick summary of any dataset. The key word here is summary. In any summary, you zoom out to describe the dataset and...

By Jeff Lundy There are many books about the early history of science.  There are even several histories of statistics.  Yet, I’ve not seen a social history exclusively devoted to data; even though, without data, statistics could not even exist. In this blog post, I’m going to argue that...

Introduction What do you think of when you hear the word simulation? Personally, my head goes straight to the Matrix. Are we living in a simulation? Well, over the past few months, I have been living in a simulation. More specifically, it has been my simulation class as part...