Heavy Lifting - thoughts and web finds by an economist
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Tuesday, February 01, 2005
In last night's econometrics class we mentioned degrees of freedom for the first time. How many degrees of freedom is enough? It is an open question, but much like obsenity, I know too few degrees of freedom when I see it.
Enter Exhibit A from The Sport Journal, which published the following table that had 13 degrees of freedom, evidently twelve more than the authors felt necessary:
Econometrics is a potentially dangerous tool, kiddies. It shouldn't be trifled with.
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