The following is a nice example from Michael Hardy that shows how excessive focus on unbiasedness of an estimator leads to nonsense results : A light source is at an unknown location µ somewhere in the unit disk D. A dart thrown at the disk strikes some random location U in the disk, casting a shadow at a point X on the boundary. The random variable U is uniformly distributed in the disk, i.

A whistleblower( someone working in a hedge fund at Singapore) alleges that NSE had indulged in market manipulation to the tune of 100 crores over a period of three years. What are the allegations against NSE, Omnesys and others? Tick by Tick data was disseminated via TCP/IP instead of UDP for three years and there was no load balancer in place.This meant that the person who could connect to the server that had the least load and be first in the queue was at an advantage.

Making beautiful and powerful music is a physical act - pulling, scraping, beating, and straining wood, steel and muscles. Music is not made. It is wrought. Sounds are wrung from wood and steel, Fingers pull metal. Horsehair scrapes gut. And out of the pulling, beating, scraping and straining comes that most intangible, that most beautiful and powerful of things . . . music. [youtube https://www.youtube.com/watch?v=Qg0JTAMwM6U?rel=0]

This book is vastly different from the books that try to warn us against incorrect statistical arguments present in media and other mundane places. Instead of targeting newspaper articles, politicians, journalists who make errors in their reasoning, the author investigates research papers, where one assumes that scientists and researchers make flawless arguments, at least from stats point of view. The author points a few statistical errors, even in the pop science book, “How to lie with statistics?

Via Zenpencils Go placidly amid the noise and haste, and remember what peace there may be in silence. As far as possible, without surrender, be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even to the dull and the ignorant, they too have their story. Avoid loud and aggressive persons, they are vexations to the spirit. If you compare yourself with others, you may become vain and bitter; for always there will be greater and lesser persons than yourself.