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st: OLS on a Small Sample
From
Lloyd Dumont <[email protected]>
To
"[email protected]" <[email protected]>
Subject
st: OLS on a Small Sample
Date
Wed, 5 Jun 2013 14:36:44 -0700 (PDT)
Hello,
Statalist.
A
colleague of mine asked me to give him some feedback on a paper. In it, he runs OLS on a sample of 27 of the 31
plants in a single company, predicting performance as a function two
independent variables (and a constant, of course). (Four plants are excluded for idiosyncratic
reasons, e.g., one makes an oddball product, one refused to share data,
etc.)
Assuming
all of the other regression assumptions hold, should the relatively small
sample size lead me to call these results into question? I mean, how reliable are the standard errors
and resulting t-tests when n = 27?
And,
assuming others are as uncomfortable as I am, is there an obvious nonparametric
alternative to OLS for this situation? If nothing else, he could use bootstrap standard errors instead of the
standard variance estimator, right?
Thank
you for your thoughts.
Lloyd
Dumont
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