Understanding Moments
gregorygundersen.com
Understanding Moments
A key aspect of thinking quantitatively is understanding the laws of probability and randomness.
But it’s more important to understand the principles of calculus—where you’re measuring the change in small discrete or small continuous events.
we also need a measure of the spread of the data around the average. The most common way to do this is using a metric called the standard deviation.
goals. The word understanding has various meanings, and our usage suggeststhat understanding is not one achievement but several, and it is revealedthrough different kinds of evidence.
How do you make sense of an “average” of a system that will be different every time you run it? Well, you could fix the period of time the system runs for and take the limit of where individual variables get to, as attained by running the system over and over and over to infinity. Or, you could fix the number of systems (preferably at “one” for min
... See moreBecause you can rarely measure an entire population, you usually don’t know the real value of a parameter. In fact, parameter values are almost always unknowable.