Similarly, Einstein believed that quantum mechanics was describing some sort of statistical average of an underlying phenomenon that was deterministic.
But what happens if the bulls are right and our GDP growth rate bounces back to a lively, noninflationary 4% ... yet the bears are right as well, and the market doesn't give a fig about growth because it cares only about meeting a statistical average?
He needs a further 113 runs if he is out twice, or 73 if dismissed once, to finish with an average over 40 - the statistical measure of a good Test batsman.
The State Statistical Bureau has forecast 8.7% average yearly GDP growth for the rest of the decade, with 8%-to-9% inflation.
The percentage of 14 year olds achieving the expected level was almost in line with statistical neighbours and was better than the national average for English, mathematics and science.
There are all sorts of new, modern statistical indexes to measure performance that now supplement batting average and runs batted in.
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In other words that if the occurrence of something is abnormally high or abnormally low simply because of random variation, the statistical chances are that it will be much closer to the average the next time you measure it.
In statistical terms, optimism is more than one standard deviation above the historical average.
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That's well above the 6.3%, or about one of 16, average for the league, according to NBA.com's statistical website, and it threatened Danny Fortson's 16.7% rejection rate in 1997-98, which is the highest for anyone who has attempted at least 500 field goals in a season since 1997, the earliest for which NBA.com has data.
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Bearish sentiment is at unusually high levels, but not so high that it would be considered extraordinarily high. (In statistical terms, pessimism is less than two standard deviations away from its historical average.) The sharp increase comes as the market has pulled back, some large-cap stocks have declined notably over the past several weeks and uncertainty about the fiscal cliff looms.
They carried out detailed statistical analysis, in order to assess whether there was a link between cases of cancer and above average levels of radiation.
Retailers also continue to experience a higher average probability of default, based on the Sageworks probability of default model, a predictive statistical model for the credit analysis of small or privately held companies.
Although economists on average expect growth of 0.1 percent on the quarter, they warn it would take the smallest statistical variation to put the figure in negative territory.
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