Points to Remember
The key points to remember
from this chapter are:
-
Don’t just look at the tabs and make a conclusion about the market—test hypotheses about means and proportions.
-
Correlations show linear association between a pair (always a pair) of variables. But be careful of spurious correlations.
-
Be mindful of the multiple comparisons issue. Testing many hypotheses in a family results in the inflation of the false error rate,
. This will lead to rejecting more hypotheses than
you should reject. Use Tukey’s HSD to
control for this inflated experiment-wise error rate.
-
Use ANOM for means and proportions.
-
Look for relationships ...
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