Statistics Lie (part three): Independent events…or how it was iid and not id that helped fuel the financial crisis

Statistics Lie (part three): Independent events…or how it was iid and not id that helped fuel the financial crisis

Statistics can be used to trick or deceive.  Statistics can also “prove” things that are not true at all.  One of the reasons this can happen is related to an assumption referred to as iid. Iid is shorthand for independent and identically distributed.  It is often a necessary assumption for statistical inference.  Assuming events are iidRead more about Statistics Lie (part three): Independent events…or how it was iid and not id that helped fuel the financial crisis[…]