Nate Silver, The Signal and the Noise: Why So Many Predictions Fail And Some Don’t” (NY: Penguin Press, 2012), 454 pages.Nate Silver gained national attention with a forecasting system he developed in 2003 called PECOTA. He used baseball data to forecast the performance of major league baseball players. It was very successful and the attention he got allowed him the time and money to expand his interests into other areas and write us a thoughtful and reflective book on forecasting. The Signal and the Noise is a book for people who like data and...
Wednesday, 17 July 2013
Monday, 8 July 2013
Inflation and Wages for 2006 to 2012
Posted on 11:32 by Unknown
News of college graduates struggling to pay student loans draws attention to wages. College graduates who cannot find jobs using their college degree skills add to the pool of labor looking for already low wage jobs, potentially lowering wages and buying power even more. Wages need to keep up with inflation to assure Americans can buy what they produce and keep themselves employed. In practice comparing wages over time requires adjusting wages for inflation with the Consumer Price Index to compare buying power, or real wages. For example, the median...
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