chi-by-eye
From Wiktionary, the free dictionary
English
Etymology
Alluding to the χ2 test ("chi squared test") used to formally test a statistical hypothesis.
Noun
chi-by-eye (uncountable)
- (humorous) the practice of deciding between statistical models based on a plot, rather than a formal procedure.
- 2007, William H. Press, Saul A. Teukolsky, William T. Vetterling, Brian P. Flannery, Numerical Recipes: The Art of Scientific Computing, page 774:
- They deem a fit acceptable if a graph of data and model "looks good." This approach is known as chi-by-eye. Luckily, its practitioners get what they deserve.
- 2011, Steven P. Greiner, Ben Graham Was a Quant : Raising the IQ of the Intelligent Investor, page 16:
- Their business prospects and earnings are correlated, and this can be observed by visually plotting their stock prices. Statisticians often call this "chi by eye."
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