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Blinder Oaxaca method: A method or technique used for assessing the effect of the role of income on racial wealth gap. The method or technique is based on the decomposition of the mean interface difference in wealth into portion because of the differences in the distribution of one or more explanatory variables and that due to the differences in the conditional expectation function, and para- metric estimation of the wealth-earnings relationship by race.
Incidental parameter problem is a problem which sometimes occurs when the number of parameters increases in the tandem with the number of observations. For instance, models for pa
We are installing a router for our network. We believe that the time between the arrival of packets will be exponentially distributed with parameter R = 2 packets/second, and th
Pie chart is an extensively used graphical technique for presenting relative frequencies related with the observed values of the categorical variable. The chart comprises of a cir
Mention the characteristics of Statistics. Explain any two applications of Statistics.
Last observation carried forward is a technique for replacing the observations of the patients who drop out of the clinical trial carried out over a time period. It consists of su
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
The Null Hypothesis - H0: γ 1 = γ 2 = ... = 0 i.e. there is no heteroscedasticity in the model The Alternative Hypothesis - H1: at least one of the γ i 's are not equal
Classification and regression tree technique (CART): The alternative to the multiple regression and associated techniques or methods for determining subsets of the explanatory va
Chebyshev's inequality: A statement about the proportion of the observations which fall within some number of the standard deviations of the mean for any of the probability distri
The function of a variable t which, when extended formally as a power series in t, yields factorial moments as the coefficients of the respective powers. If the P(t) is probability
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