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Categorical variable: A variable which provides the appropriate label of observation after the allocation to one of the several possible categories, for instance, the respiratory status can be excellent, terrible, fair, poor, good, or blood group which can be AB, A, B, or O. Respiratory status is an example of an ordered categorical variable or ordinal variable whereas blood type is an example of the unordered categorical variable.
4-13. Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previou
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
HOW TO OBTAIN THE LASPEYRES QUANTITY INDEX AND THE FORMULA
The GRE has a combined verbal and quantitative mean of 1000 and a standard deviation of 200.
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
The growth in bad debt expense for Johnston office supply Company over this time period.If this rate continues,estimate the percentage increase in bad debts for 1997,relative to 19
Bayesian confidence interval : An interval of the posterior distribution which is so that the density of it at any point inside the interval is greater than that of the density at
Likelihood is the probability of a set of observations provided the value of some parameter or the set of parameters. For instance, the likelihood of the random sample of n observ
Generalized principal components analysis: The non-linear version of the principal components analysis in which the goal is to determine the non-linear coordinate system which is
Mauchly test is a test which a variance-covariance matrix of pair wise differences of responses in the set of longitudinal data is the scalar multiple of identity matrix, a proper
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