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Hopefully, you find the classification of the first three variables easy to
understand.
Method 1: Count heart beats for 6 seconds & multiple by 10 to get heart
beats/minute
Method 2: Count heart beats for 30 seconds & multiply by 2 to get heart
beats/minute
3 73, 76, 74, 75, 74, 75 73, 76, 74, 75, 74, 75 73, 76 74.5
In this example, we will not explore whether or not heart rate is a valid measure
of overall health and fitness. Obviously, it does provide some information about
whether or not a person may have some health problems. But by itself, it usually
does not provide a complete picture. The questions that we pose now are the
following:
Suppose you are interested in knowing whether the average price of homes in a
certain county had gone up or down this year in comparison with last year.
Would you be more interested in having a measure with low bias or a reliable
measure of sales?
Ideally you would like the measure to be both unbiased and reliable. However, a
reliable measure that is biased, can still often provide some meaningful
information. Since the goal is to make a comparison of the average price of
homes over two years, the measure must be reliable. So, even if the measure is
biased, the amount of change from one year to the next may be sufficient
information to make a comparison.