Harold Hotelling

Harold Hotelling was an American mathematician and statistician known for his contributions to economics and statistics. He developed key concepts in statistical theory, including the Hotelling's T-squared test, which helps determine whether the means of two groups are different. Hotelling is also famous for his work in economics, particularly the "principle of minimum differentiation," which explains why businesses offering similar products tend to cluster in the same area to capture the largest market share. His ideas have influenced various fields, including social sciences, machine learning, and environmental science.