In the early 20 th century, Guinness breweries in Dublin had a policy of hiring the best graduates from Oxford and Cambridge to improve their industrial processes. At the time, it was considered a ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

In the Neyman-Pearson theory of hypothesis testing it is customary to calculate significance levels and power functions on the assumption that the sample size is fixed. The main purpose of this paper ...

Post-hoc testing is carried out after a statistical analysis where you have performed multiple significance tests, ‘post-hoc’ coming from the Latin “after this”. Post-hoc analysis represents a way to ...

Multiple hypothesis testing is an important part of many high-throughput data analysis workflows. A common objective is to maximize the number of discoveries while controlling the expected fraction of ...

“Dutch Book” arguments and references to gambling theorems are typical in the debate between Bayesians and scientists committed to “classical” statistical methods. These arguments have rarely ...