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.
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.
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:
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.
... the statistic chosen should summarize the whole of the relevant information supplied by the sample.
Frank.