Post tagged: language

Many statistical "gold standards" aren't perfect, but that's why they're perfectly named

Statisticians and computer scientists often use the term "gold standard" for the best possible benchmark you could have when trying to estimate something. I often hear statisticians questioning the benchmark though, saying that "it's not really a gold standard" because it isn't perfect. My response is that the term "gold standard" should still apply. Moreso even, because the actual gold standard of matching currency to gold reserves isn't perfect either...