June 2017
Beginner to intermediate
576 pages
15h 22m
English
There has always been this concern regarding p-values with small samples, however using data with large samples can also yield bad results, in that the p-value may be correct, but the magnitude of the change (the effect) is very small.
Take this example in which you are measuring the effect of winning between an average of $1,000,000 or $1,000,001 in a lottery.
We will generate two probability samples:
Generate a dataframe with X and Y and print some summary statistics:
set.seed(1020) lottery <- data.frame( cbind(x=rnorm(n=1000000,1000000,100),y=rnorm(1000000,1000001,100) ...