O'Reilly logo

Econometrics for Daily Lives, Volume II by Tam Bang Vu

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 10

Selection Bias

Last week, Taila was carrying out a survey on the consumer demand for her tailoring shop, the Tailorie. Her boss wanted to know the spending habits of their customers. The customers would be classified by different age groups. She interviewed a dozen customers and came to the determination that middle-aged customers spent more money on fashionable clothes than young customers. However, her friend, who also interviewed a different dozen customers on the same issue, came up with the complete opposite results, that young customers spent more money on fashionable clothes than older ones. Today, she asked Prof. Metric to help explain the results. Prof. Metric responds that both of them might have selection-bias problems that ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required