Statistics

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Chapter 5 Sample

Statistics is boring and useless. No one cares about statistics. Let’s talk more about investing. No. You should care about statistics. There isn’t much you need to know, but there are a few key items within statistics that if you do not understand, you will always be at a disadvantage to those who do.

First of all, the most important thing you have to know is what constitutes a statistic? A statistic is a piece of data that was derived from a set of data. However, a statistic must be based on sample size, correlation, confidence level etc. If you have a good sample size and a strong confidence level, or if you are comparing correlated data, you may have some relevant information on your hands. However, if the sample size is too small, or if something isn’t correlated, the data can be considered irrelevant...