From A Letter To The Editor:
 |
| "Dumb Clucks" ? (... on average?) |
The Economist
(11/29/2014)
"Sir:
I agree that "averages should not be the sole basis for making policy decisions". Your article reminded me of a sign that was posted outside the office door of a visiting African scholar. Putting the matter succinctly, it read, ....
"A statistician is a fellow who says that if you ate a chicken and I ate nothing, we each ate, on average, half a chicken."
- Lawrence Mohr,
Professor Emeritus
University of Michigan
("Chicken Little"... fried, half-baked, or robust?)
14 comments:
I don't know many credit union members that raved about the average level of service they received at the credit union!
Although, I root for the Redskins and would be happy with average!
I read all of Jim Blaine's rantings and on average I would say they are pretty good.
Me thinks he "damns with faint praise".
Say what you want about Chicken Little, but you can never say he has not been transparent.
The comment about blog is just plain mean!
Question:
On Average how many times have the Robust Economists at NCUA been correct with their predictions about the direction of interest rates?
Answer:
{Empty Set}
The "mean" comment made my day...
Now feel confident (within one standard deviant!) that someone exists out there with a lower sense of humor than me... robustly lower!!!!!!
I am happy to admit that I am a deviant, but I have never been average or mean!
Standard deviants are ok, it's the substandard deviants which cause the variance...
It is the substandard deviants that caused the variance which lead to the mean reversion.
Fear I'm in a dialogue with a standard deviant suffering from kurtosis... having a pointy, "peaked" head and a "chubby" tail...
Uncertain that Chubby adequately describes my mean distribution between my peak and my base? It is all about the base! Not sure if broad beamed does my base a proper justice. One could suggest that the relationship between peak and base is more platykurtic than leptokurtic!
Was trying to be polite. The correct "robust" statistical term is "fat tails"...
Was trying to avoid skewing anyone...
If the Robust Economists at NCUA understood the implications of fat tails, they would stop skewing credit union management with overbearing regulations including the soon to be proposed again RBC.
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