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Matiss
  • Member for 9 years, 4 months
  • Last seen more than 4 years ago
  • Barcelona, Spain
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How to determine efficiency of something?
@whuber are you implying I am not?
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How to determine efficiency of something?
I understand perfectly well how this site works, @whuber - I came with a question based on what I could reasonably believe could be enough to solve the problem. If you are a professional in the field and it is obvious for you that I have missed something or formulated something wrong, point it out and I will attempt to correct that as much as I can. I still don't see how this answer solves my problem, hence I asked OP to elaborate - how does this work and why? Or am I gravely mistaken and this part of stackexchange is for field professionals and academics exclusively?
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How to determine efficiency of something?
@whuber I believe variable value means that the value, well, is variable - e.g. there is no "Price", there can be "sum of Prices" or "average of Prices". As for the efficiency, the standard definition applies - "the ratio of the useful work performed in a process to the total energy expended", expressed as any meaningful value that fits the requirements of the question. I am not a statistician nor data scientist - if you have a specific question to ask - do so. If your goal is to be condescending and to have a philosophical debate about concept of infinity - I see no value in that at all.
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How to determine efficiency of something?
Problem with this, as I pointed out in the question, price is a variable value - averaging it would not be very precise. Could you maybe explain your formula a bit further?
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How to determine efficiency of something?
@Scortchi ... *CV - cross validated...
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