Lies, Damned Lies, and Statistics - Deepstash
Lies, Damned Lies, and Statistics

Lies, Damned Lies, and Statistics

  • Avoid succumbing to the gambler’s fallacy or the base rate fallacy.
  • Anecdotal evidence and correlations you see in data are good hypothesis generators, but correlation does not imply causation—you still need to rely on well-designed experiments to draw strong conclusions.
  • Look for tried-and-true experimental designs, such as randomized controlled experiments or A/B testing, that show statistical significance.
  • The normal distribution is particularly useful in the experimental analysis due to the central limit theorem.

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