Tag: sample size

What do Goldilocks and statistical analysis sample size have in common? A razor-sharp focus on “just right.” A sample size that is too big or too small leads to inaccurate data and wasted resources (although hopefully not three bears).

This paper looks at some of the methods of estimating standard deviation (which I will usually refer to as ‘sigma’). Additionally, I propose a new formula for estimating sigma for small sample sizes and also present a means to mathematically evaluate these competing estimates of sigma. The question was posed to me: “I have five […]