We discussed the Simpson’s Paradox in class. Describe this paradox and why it occurs. Describe one...

We discussed the Simpson’s Paradox in class. Describe this paradox and why it occurs. Describe one example (your own, not one presented in class or in your textbook) where this paradox occurs and might lead to poor decision making.

Explain how correlation and regression are related concepts. Why is regression impossible without correlation? How does the strength of a correlation directly influence the outcome of a regression equation? Use your own specific example to illustrate these concepts.

Briefly describe the role of chance and probability in hypothesis testing. What do we mean when we say our results are statistically significant or not? What are we essentially saying about the probability of obtaining our sample results due to chance alone? Use your own, specific example to illustrate these concepts.

Describe the three pitfalls associated with risk statistics as describe in your book using your own unique examples to illustrate the importance of each pitfall.

Researchers found a correlation between taking fish oil supplements and having clear skin. Describe three reasons this correlation might exist.

Expert Solution

we discussed the Simpson's Paradox in class:

The phenomenon occurs:

1) when there are two or more distinct groups with different trends on a measure but when the measure is seen in common for all groups together, the trend disappears/reverses (or)

2) when inferences about different groups' statistical measures (e.g.: mean) reverse when they are drilled down across a new variable

In the case 1) it happens because of the weights (one large compared to the other) that the two groups whose trends are captured might carry. The rate of change of the larger group, if considerably slower than the rate of change of the smaller one even if it is in the same direction , a combined trend might show the opposite direction.

In the case 2) the proportion of the two groups in relationship with the new variable could hide the statistical measure when aggregated by the variable & seen

Example:

One example from Sports can be the Simpson's paradox arising from a set of Tennis.

Given the scoring system in tennis, a player can win a set at the best scoring 24 points to 0. On the other hand, a player can lose a tightly contested set winning more points than his opponent (as many as 12 points if he wins all his service games to love and loses his opponent's service games reaching deuce and the ensuing tie breaker with 2 point difference)

So, during a live match, Betting on a player looking only at points trends for the 2 players assuming the one with higher points having more likeliness to win could lead to a poor decision making as it could infact be wrong and the player with lesser points won could win the match resulting in a case of Simpson's paradox.

orchestra answered 2 years ago

What could be a hypothetical study in which Simpson’s Paradox could occur and name a possible...

What could be a hypothetical study in which Simpson’s Paradox could occur and name a possible lurking variable. Include findings for the association.

List and describe four economic indicators that we discussed in class that are important when evaluating...

List and describe four economic indicators that we discussed in class that are important when evaluating a market for expansion. Explain what each tells you about a market and why it’s important. (This is a short answer prompt)

For each of the four orienting strategies we have discussed in class, identify and briefly describe...

For each of the four orienting strategies we have discussed in class, identify and briefly describe one kind of problem, issue, or phenomenon that the strategy would suggest is worth theorizing about. Exchange Conflict Functionalism Interactionism

Of the trade theories we discussed in class choose one trade theory that features the role...

Of the trade theories we discussed in class choose one trade theory that features the role of government and one trade theory that does not. Comparing the two trade theories, outline which theory best represents the advantages and disadvantages of completely free international trade. In your answer justify why you chose this theory.

B. Compare and contrast these two case studies: The first one we discussed in class, General...

B. Compare and contrast these two case studies: The first one we discussed in class, General Motors (GM), which decided to offshore production from the USA to Mexico. When GM began this in the late 70s, it was a relatively new idea for a major American producer, and was highly controversial, but the trend has grown over the decades, and nowadays other major car companies, including European and Asian giants like BMW and Honda, have followed the same strategy to...

In class, we discussed the fact that “Mortgages are bonds and bonds are mortgages”. Thus, we...

In class, we discussed the fact that “Mortgages are bonds and bonds are mortgages”. Thus, we can use the basics of bond pricing and yield to maturity to evaluate across lending options in mortgages. Assume you have two mortgage home loans to choose from: a. $400,000 @ 4.5% (with monthly compounding) for 30 years with $20,000 in finance fees (aka: points) b. $400,000 @ 6.5% (with monthly compounding) for 15 years with no finance fees (aka: points) Further assume both...

9. Describe in full detail ONE of the plant hormones discussed in class. Support your description...

9. Describe in full detail ONE of the plant hormones discussed in class. Support your description by discussing the chemical nature, site of biosynthesis, transport, effects, and practical uses.

Write in Java! (Not Javascript) Consider the LinkedList class we discussed in class (see the slides...

Write in Java! (Not Javascript) Consider the LinkedList class we discussed in class (see the slides for lecture 8). Add the following methods to the class and submit the completed LinkedList class. int size() which returns the size of the linked list Link getElementByIndex(int index) which returns the Link/node specified by the index. For example, getElementByIndex(0) should return the first Link, getElementByIndex(2) should return the third Link. If index is not in range, your method should return null. boolean hasDuplicate()...

Describe the Twin Paradox

In class, we discussed problems associated with the supply of physicians in Alabama, and how these...

In class, we discussed problems associated with the supply of physicians in Alabama, and how these problems affect the health care market in Alabama. Your textbook also reviews the physician supply in the USA. The demand for physicians has been much greater than the supply, especially primary care physicians in rural areas of Alabama. What are three of the problems we discussed with the supply of physicians and what are three solutions that would help to overcome the supply problem?...

Question