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re: "Half the schools are below average" - not always true
Posted on 10/1/14 at 10:08 am to buckeye_vol
Posted on 10/1/14 at 10:08 am to buckeye_vol
quote:
Well since the normal distribution is the the most commonly occurring distribution and not the only distribution that the mean is a measure of central tendency and the expected value, then it is often true. So generally is an appropriate description.
Actually nature is usually more skewed than normal. The stock market learned that the hard way in 1987. Simply presuming a normal distribution without evidence is a serious folly.
2
Posted on 10/1/14 at 10:12 am to SpidermanTUba
quote:
Simply presuming a normal distribution without evidence is a serious folly.
You do know that there are many other distributions than the normal with the mean as the central measure, right?
You also know that many of these distributions are not symmetrical or unimodal, right?
Of course you did
Posted on 10/1/14 at 5:23 pm to SpidermanTUba
quote:
Actually nature is usually more skewed than normal. The stock market learned that the hard way in 1987. Simply presuming a normal distribution without evidence is a serious folly.
Look I think The Black Swan is a great book as you seem to be using Taleb's argument, but you're misapplying his argument. He differentiated between that do not have an underlying normal distribution, and instead have fatter tails due to extreme, disproportionate outliers and variables that do have an underlying distribution. Test scores would fall in the latter groups for a number of reasons that I explained in an earlier post.
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