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#linearregression

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@data @datadon 🧵

How to assess a statistical model?
How to choose between variables?

Pearson's #correlation is irrelevant if you suspect that the relationship is not a straight line.

If monotonic relationship:
"#Spearman’s rho is particularly useful for small samples where weak correlations are expected, as it can detect subtle monotonic trends." It is "widespread across disciplines where the measurement precision is not guaranteed".
"#Kendall’s Tau-b is less affected [than Spearman’s rho] by outliers in the data, making it a robust option for datasets with extreme values."
Ref: statisticseasily.com/kendall-t

LEARN STATISTICS EASILY · Kendall Tau-b vs Spearman: Which Correlation Coefficient Wins?Discover why Kendall Tau-b vs Spearman Correlation is crucial for your data analysis and which coefficient offers the most reliable results.
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"In real life, we weigh the anticipated consequences of the decisions that we are about to make. That approach is much more rational than limiting the percentage of making the error of one kind in an artificial (null hypothesis) setting or using a measure of evidence for each model as the weight."
Longford (2005) stat.columbia.edu/~gelman/stuf