« Confused by machines, or spooked by the machine-makers | Main | What is Mr. Pruitt saying? »

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Ken

Most of the countries that are excluded have economies based very much on natural resources, specifically oil, meaning no need to interact with the rest of the world for the rest of the economy. Additionally in the oil-rich nations much of the real work is done by guest workers. The impression is that they are low paid Pakistani labourers, but they are also often IT, engineers and oil workers.

The need for additional predictors raises an important difficulty. There are less than a 100 countries with good data on most economic variables. I think in the graphs there are 40-50. The only way to fit models is to choose a small number of predictors. Choice of predictors can obtain almost every result desired.

It is a similar result with comparison of US states. With only 50 states trying to build models of how, for example, the death penalty affects crime rates is just not going to work well. Doesn't stop social scientists and economists doing things like this.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Business analytics and data visualization expert. Author and Speaker. Currently at Columbia. See my full bio.

Next Events

May: 24 JMP Explorers on Data Viz , Cary, NC

Jun: 14 MITX Data Summit , Cambridge, MA

Jun: 21 Principal Analytics Prep Info Session, online

Past Events

See here

Future Courses (New York)

Summer: Statistical Reasoning & Numbersense, Principal Analytics Prep (4 weeks)

Summer: Applied Analytics Frameworks & Methods, Columbia (6 weeks)

Junk Charts Blog



Link to junkcharts

Graphics design by Amanda Lee

Search3

  • only in Big Data

Community