Do you have some sort of data? You has two columns of numbers that you suspect is related somehow, but when you look at them, … Read More

Take your correlation coefficient, which shows a correlation of 0.5 between two variables. That’s pretty impressive, unless you consider it came from a mere sample … Read More

Allow yourself to collect enough data, and you’ll find that it tends to follow what is called the normal distribution, which is the pattern you … Read More

It’s your scatter plot: a collection of points standing before you as if someone dumped a bag of gravel onto a sheet of graph paper. … Read More

I think we’ve all heard that our favorite has three to one odds before. Sounds good! Except that it doesn’t mean anything without context. Are … Read More

If that sounds familiar, then you’ve seen an exponential curve before (perhaps in math class?). It’s that thing in finance and biology that seem abstract… … Read More

Your goal is to plan a study and wonder about its validity. It is not merely about collecting data, but about whether you’ll have enough … Read More

The odds say one thing. The game says another. Most bettors make their money based off that gap between what they think should happen, and … Read More

We think standard deviation is just a measure of how spread out a set of numbers are and we are only partially right. What’s tricky … Read More

The binomial distribution apply to binary decisions, in other words, any decision with exactly two options. That’s true of quality control checks, election polls, and … Read More