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Apr 11, 2012

The notion of sufficiency in statistics

Post @ 10:24:22 | Quotes

In 1921 (published 1922), Sir R. A. Fisher came up with a (the?) mathematical theory of statistics. At the core of it is the notion of sufficiency:
... the statistic chosen should summarize the whole of the relevant information supplied by the sample.
Fisher-Sufficiency-1922.png Nowadays, with Big Data hunt for Better Data, model selection and sufficiency is crucial. The question remains on how much information is there in the data.
Frank.