Quantitude

S4E01 Ordinary Least Squares: Back Where It All Began

Sep 13, 2022
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ANECDOTE

Gus the Nonretrieving Retriever

  • Gregg's dog Gus is called an English cream golden retriever but is white and does not retrieve.
  • Gus collects and leaves stuffed animals outside creating a "crop circle" security system around the house.
ADVICE

Keep Key Concepts Ready

  • Keep key quantitative concepts "at your fingertips" like one keeps songs for piano performance.
  • This helps whether you’re a user, teacher, or developer of quantitative methods.
INSIGHT

Estimation Is Like Calvinball

  • Estimation criteria are like Calvinball: the rules define what is "best" and can change arbitrarily.
  • Squaring residuals forms the basis for least squares and elegantly solves sign and distance issues in estimation.
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