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In his 1597 play ‘Romeo and Juliet’, William Shakespeare narrates the tragic story of Romeo Montague and Juliet Capulet. The two young persons are in love, but their families are engaged in a blood feud. The consequences were tragic. The imposition of statistics in medicine evokes similarly strong emotions. The animosity may not be as […]
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By Graham Robertson Senior Marketing Executive, Cambridge University Press How much do you know about the influence of mathematics and statistics? April is Mathematics and Statistics Awareness Month, so we thought we would share a quick snapshot… You probably know that secure online shopping and private messaging on your mobile or cell phone would not […]
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“Climate extremes cost human lives. They do harm to the economy. Examples are the Elbe flood in 2002, the European heatwave in 2003 or hurricane Katrina in 2005. The big question is how global climate change influences climate extremes. This plagues decision-makers as well as climate researchers.” This is how the preface starts. How to […]
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What do you do when faced with analyzing student ratings from 1 to 5 for 3 instructors in 3 classes? Aside from questioning the validity of students assessing instructor capability other than for the income generated by high enrollments, and that this is but a toy example, many naive analysts turn to the well-known analysis […]
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My previous blog summarised the orthodox argument why adverse selection in insurance is a bad thing. This present blog gives the counter-argument from my book Loss Coverage: Why Insurance Works Better with Some Adverse Selection. In essence, the counter-argument relies only on simple arithmetic, and can be illustrated by a toy example. Think of a […]
Read MoreGuy Thomas explores why adverse selection in insurance is usually seen as a bad thing in the first of two blog posts based on his new book Loss Coverage.
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Measure and integration theory is an indispensable tool in mathematical analysis, probability theory, mathematical statistics and in many applications such as mathematical finance and actuarial studies. Sometimes it is taught at the end of one’s undergraduate studies, but it is more commonly found in the graduate curriculum – well after the theories which are based […]
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Tarun Kumar Roy discusses how 'Statistical Survey Design and Evaluating Impact' addresses the two fundamental statistical designs, sample survey and experimental or evaluation designs.
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