Thursday, September 9, 2010

Chart of the Day

A rare good use of a pie chart.

A little economic knowledge can do quite a bit of harm

From Free Exchange:
I've certainly met my share of Econ 101 robots, who can't talk beyond the "markets are always right" models one gets in early economics classes.

I know some Ph.D. trained economist robots, who also can't talk beyond the "markets are always right" mantra. Some economic problems, as it turns out, are more complex than the "X marks the spot" pirate logic (AAARRGH!) of simple supply and demand.

Big, bad government

If the government's intrusiveness in the real economy can be at all proxied by public sector employment, then the Tea Party should take note of what's happened in the last two years.

Tuesday, September 7, 2010

Risk in the NFL

Probably for something to get started in class tomorrow...

Trivia vs. Statistics

From Advanced NFL Stats:
Who has the longest interception return ever? Which running back ran for
the most yards in a single game? What team scored the most fourth
quarter touchdowns in a season?

Answer: I don't care.

That's trivia, not statistics. What I'm interested in is analysis. What
makes a winning team? Is it better to go for it or punt on 4th and short
at the 50 yard line? Which teams are most likely to make the playoffs?
How much does luck play a part in any game?