Harold Hotelling Quotes

Harold Hotelling was an American mathematical statistician and an influential economic theorist, known for Hotelling's law, Hotelling's lemma, and Hotelling's rule in economics, as well as Hotelling's T-squared distribution in statistics. He also developed and named the principal component analysis method widely used in finance, statistics and computer science.

He was Associate Professor of Mathematics at Stanford University from 1927 until 1931, a member of the faculty of Columbia University from 1931 until 1946, and a Professor of Mathematical Statistics at the University of North Carolina at Chapel Hill from 1946 until his death. A street in Chapel Hill bears his name. In 1972, he received the North Carolina Award for contributions to science. Wikipedia

✵ 29. September 1895 – 26. December 1973

“Research in statistical theory and techniques is necessarily mathematical, scholarly, and abstract in character, requiring some degree of leisure, detachment, and access to a good mathematical and historical library. The importance of continuing such research is very great, though it is not always obvious to those whose interest is entirely in practical applications of already existing theory. Excepting in the presence of active research in pure science, the application of the science tend to drop into a deadly rut of unthinking routine, incapable of progress beyond a limited range predetermined by the accomplishments of pure science, and are in constant danger of falling into the hands of people who do not really understand the tools that they are working with and who are out of touch with those that do. … It is in fact rather absurd, though quite in line with the precedents of earlier centuries, that scientific men of the highest talents can live only by doing work that could be done by others of lesser special abilities, while the real worth of their most important work receives no official recognition.”

Harold Hotelling