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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.
Procedures for estimating the probability distributions without supposing any particular functional form. Constructing the histogram is perhaps the easiest example of such type of
Using World Bank (2004) World Development Indicators; Washington: International Bank for Reconstruction & Development/ The World Bank, located in the reference section of the Learn
Kolmogorov Smirnov two-sample method is a distribution free technique which tests for any difference between the two populations probability distributions. The test is relied on t
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
The skewness is a measure of asymmetry and as it is positive at 4.29, it is greater than zero which reveals that the tail extends to the right indicating the distribution to be mor
Mann Whitney test is a distribution free test which is used as an alternative to the Student's t-test for assessing that whether the two populations have the same median. The test
An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bi
Personal probabilities : A radically special approach for allocating probabilities to events than, for instance, the commonly used long-term relative frequency approach. In this ty
The computer programs designed to mimic the role of the expert human consultant. This type of systems are capable to cope with the complex problems of the medical decision makin
The plot of the number of cases of the disease against the time period. A large and sudden increase corresponds to an epidemic. The example of this is shown in the figure drawn bel
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