The American Statistical Association made it easier for researchers to use p-values. By laying down few simple principles, ASA aims at improving the understanding of a commonly misused statistic. Most importantly, ASA stresses the relevance of rigor in research over a mere "p-hacking" practice. In its recent statement, ASA concludes that "no single index should … Continue reading The American Statistical Association just made it easier to use p-values.
The currency seems to have a negative effect... There are two sides to every story, even for US-China foreign trade. Ever since China emerged to the world economy as a major manufacturing powerhouse, United States started to lose jobs in the manufacturing sector. Once upon the time firms of manufactured goods such as shoes, clothes … Continue reading US-China trade: There are two sides to every story.
Press Release by the Bureau of Labor Statistics. All employees Real average hourly earnings for all employees increased 0.4 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.5-percent increase in average hourly earnings combined with no change in the Consumer Price Index for … Continue reading Real Earnings: Bureau of Labor Statistics, January 2016.
The use of the Average Statistic deceives readers very often whenever the Mean gets severely affected by outliers within the data. One of the most repeated critics to data analysts is the unaware use of average figures, which frequently leads to dubious generalizations. Social scientists, those of whom refuse to use statistics in their analysis, … Continue reading Real Earnings and the use of Dubious Statistics.
If your research project encompasses facts on U.S. Labor Market, here are some useful data sources and metrics that might illuminate insights for your research. Although there might be some discrepancies between what you narrowed as your research question and the data sources showed below, chances are you will find a set of metrics that … Continue reading 31 Data Sources, Surveys and Metrics for Doing Research on U.S. Labor Market.
If your research project encompasses facts on the Macroeconomic Performance of the U.S. Economy, here are some useful data sources and metrics that might illuminate insights for your research. Although there might be some discrepancies between what you narrowed as your research question and the data sources showed below, chances are you will find a … Continue reading 14 Data Sources, Surveys and Metrics for Doing Research on U.S. Macroeconomic Performance.
If your research project involves aspects on the general prospective of U.S. Economy, here are some useful data sources, surveys and metrics that might illuminate insights for your research. Although there might be some discrepancies between what you narrowed as your research question, and the data sources showed below, chances are you will find a … Continue reading 20 Data Sources and Surveys for Research on U.S. Economic Prospective.
Econometricus.com: A Quantitative Research Consulting Firm. At Econometricus.com we help clients to get statistical data straight and accurate as much as possible. No matter whether our client is a lawyer supporting a case for economic damages, or a graduate student writing a paper contesting the counterpart’s mishandling of data. Econometricus.com will provide technical support for … Continue reading Check your regression analysis for these 7 Assumptions.
Steps in traditional statistics proceedings for analysis of data: 1. Formulation of Hypothesis. 2. Description of Mathematical model. 3. Collecting and organizing data. 4. Estimation of the coefficients. 5. Hypothesis testing and confidence interval. 6. Forecasting and prediction. 7. Control and optimization. 1. Hypothesis: write down a statement that “in theory” you think happens in … Continue reading Traditional statistics proceedings for analysis of data: simple linear regression.
Once you are done with your statistical modeling process, it is time to evaluate the overall soundness of your work. • First, do the signs of the estimated coefficients correspond to what you expected them to be? In other words, do the signs of the coefficients match the theoretical postulation of your research? • Second, … Continue reading Some criteria in evaluating results of a Regression Analysis.