(no subject)

Statisticians fall into two camps: frequentists and Bayesians. However, Bayesians point at that the frequentist’s approach is almost always a special case of the Bayesian approach. I do not classify myself as falling into either camp. I just use analytics to solve problems and leave the politics to others. However, I am a firm believer in dynamic versus static analysis. Many things that you believe to be true are actually false because the results are based on a static rather than dynamic analysis. For example, you may believe that wages are actually going down as a function of time. However, if population is growing, average wages are guaranteed to drop because more young wage earners are pushing up from the bottom. On the other hand, if you condition wage calculations on age, for example, you will find that age based wages are actually increasing. Anyone trying to tell you otherwise is either dishonest or ignorant. One of my mentors advised me, “Never attribute to malice that which is better explained by incompetence.”