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Mat 308 Topics in Statistical Inference

Mat 308 Topics in Statistical Inference. Class 1, Tuesday Aug 28. Objectives:. learn basic commands in R: vectors, matrices, notion of dataframes , graphical displays of data, data statistics. Group activity: Can financial experts beat the darts?.

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Mat 308 Topics in Statistical Inference

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  1. Mat 308 Topics in Statistical Inference Class 1, Tuesday Aug 28

  2. Objectives: learn basic commands in R: vectors, matrices, notion of dataframes, graphical displays of data, data statistics.

  3. Group activity: Can financial experts beat the darts? Starting in 1988, the Wall Street Journal run a contest between stocks chosen at randomly by Journal Staff members throwing darts at the Journal’s stock pages (mounted on a board) and stocks chosen by a team of 4 financial experts. At the end of 6 months, the Journal compared the percentage in the price of the experts’ stocks and the dartboard’s stocks. As of Nov. 23, 1998, the WSJ have had 101 overlapping six month contests. A new contest is started every month. The following data gives the percent gain for the average of the experts, the darts, and the Dow.http://www.dartmouth.edu/~chance/teaching_aids/data/darts_vs_experts.txt This dataset contains the results for the experts pics, the darts’ pics and the Dow. Who did better?

  4. Group activity: Can financial experts beat the darts? Chose the one that applies best: • Financial experts clearly outperformed the Random choices • Financial experts clearly outperformed the Dow • Financial experts choices performed just as good as the Random choices • Financial experts choices performed worse than the Dow

  5. Individual activities • Open R • Open file BasicR1 from Blackboard • Read the dataset http://www.dartmouth.edu/~chance/teaching_aids/data/darts_vs_experts.txt and create numeric summaries for each group. • Display the 3 groups using comparative box plots • Save all your work

  6. Back to groups: • re-evaluate: Who did better Experts vs Random • Why was the Dow included in the dataset?

  7. Assigned reading: • BasicR2: vectors and matrices. • Qualitative. Graphical display for categorical data: bar, pie • Quantitative. Graphical displays for quantitative data. • Probability Functions by Bruce Dedek. • Chapter 2 of Mathematical Statistics w/resampling and R • Section 6: Random Data from Simple R

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