The mean, the median and the GDP – part II

A version of this post was originally published in Portuguese as a guest post at Walter Hupsel’s blog On The Rocks @ Yahoo! Brasil. This continues from The mean, the median and the GDP – part I. Using simple arithmetic, the GINI index allows for converting the GDP per capita into the median GDP, assuming that incomes follow a Pareto Distribution. For […]

What do you tell me about the world cup?

I do not care for football (soccer). So what do you do in order not to be totally alienated from the surrounding conversations in a world cup year?  More so when the cup is happening in your home country? To me it involves running some R script to assess the chances for each team and […]

The mean, the median and the GDP – part I

A version of this post was originally published in Portuguese as a guest post at Walter Hupsel’s blog On The Rocks @ Yahoo! Brasil. For over 50 years we have had Huff’s “How to Lie with Statistics” telling us that we should know better. And yet, we still rely on the wrong average in one of our most […]