Lesson plan
Mean signed deviation
In statistics, the mean signed difference (MSD), also known as mean signed deviation, mean signed error, or mean bias error is a sample statistic that summarizes how well a set of estimates \hat{\theta}_i match the quantities \theta_i that they are supposed to estimate. It is one of a number of statistics that can be used to assess an estimation procedure, and it would often be used in conjunction with a sample version of the mean square error. For example, suppose a linear regression model has been estimated over a sample of data, and is then used to extrapolate predictions of the dependent variable out of sample after the out-of-sample data points have become available. Then \theta_i would be the i-th out-of-sample value of the dependent variable, and \hat{\theta}_i would be its predicted value. The mean signed deviation is the average value of \hat{\theta}_i-\theta_i.
Article summary
In statistics, the mean signed difference (MSD), also known as mean signed deviation, mean signed error, or mean bias error is a sample statistic that summarizes how well a set of estimates \hat{\theta}_i match the quantities \theta_i that they are supposed to estimate. It is one of a number of statistics that can be used to assess an estimation procedure, and it would often be used in conjunction with a sample version of the mean square error. For example, suppose a linear regression model has been estimated over a sample of data, and is then used to extrapolate predictions of the dependent variable out of sample after the out-of-sample data points have become available. Then \theta_i would be the i-th out-of-sample value of the dependent variable, and \hat{\theta}_i would be its predicted value. The mean signed deviation is the average value of \hat{\theta}_i-\theta_i.
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Discussion questions
- Summarise the article in your own words. Which single claim would you verify first, and why?
- Which claim in this article is most likely to be revised as the sources update? How would you check its current status?
- If two sources disagreed about one of these facts, what would you need in order to trust one over the other?
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Key claims and bibliography are generated from the same tracked claims and sources as the article page.