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Re: [OM] OM-PC Value Question

Subject: Re: [OM] OM-PC Value Question
From: Gary Reese <pcacala@xxxxxxxxxxxxx>
Date: Sat, 17 Feb 2001 10:12:17 -0800
Chris writes:

<< I do NOT capture each and every e-Bay auction, so when you're looking
at the data consider it only a representative sample. >>

Subtle, but highly important point for anyone analyzing the information.
But it is only "representative" if the sample was obtained in a random
manner. If there is a pattern to what is excluded, then the information
is no longer "representative." Example: "skipped some days in December
because there were too many listings to handle" = missed a chuck of data
from the peak selling period of the year, thus, long-term averages would
be deflated. Additionally, one may no longer be able to determine the
commoness or rarity of any particular item - especially if one
differentially records rare items at the expense of common items.

<< As for rating systems, I DON'T believe in them or use them, as
they're too subjective and open to interpretation. >>

Condition is everything when it comes to appraising an items value
(Garage Sales 101). If one doesn't use some standard to judge condition,
the price range becomes ambiguously broad and the mean becomes
confounded by average condition (LN- for a 8mm Zuiko Fisheye, but BGN
for an OM-1).

OK, this might seem like nit-picking from yet another person who just so
happens to have a specialized professional knowledge. Statistics is the
only mathematics which ever captured my interested.  It is a lot like
science - if you don't get the theory and methodology down pat, the
results are unreproducable and the conclusions flawed.

Gary Reese
Las Vegas, NV


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