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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.
Hill-climbing algorithm is an algorithm which is made in use in those techniques of cluster analysis which seek to find the partition of n individuals into g clusters by optimizin
An auditor for a government agency needs to evaluate payments for doctors' office visits paid by Medicare in a small regional town during the month of June. A total of 25,056 visit
Human capital model : The model for evaluating the economic implication of the disease in terms of the economic loss of a person succumbing to morbidity or the mortality at some pa
The distribution free or technique which is the analogue of the analysis of variance for the design with two factors. It can be applied to data sets which do not meet the assumptio
What is a Generalized Linear Model? A traditional linear model is of the form where Yi is the response variable for the ith observation, xi is a column vector of explanator
The probability distribution which is a linear function of the number of component probability distributions. This type of distributions is used to model the populations thought to
This process of estimating from a data set those values lying beyond range of the data. In the regression analysis, for instance, a value of the response variable might be estimate
Q. A toothpaste company want to know if its new product increases the length of time in-between dentist visit to its user. The company sets a target for 180 days to determine if it
explain the graphical method of measure of central tendency
1. The production manager of Koulder Refrigerators must decide how many refrigerators to produce in each of the next four months to meet demand at the lowest overall cost. There i
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