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The method of summarizing the large amounts of data by forming the frequency distributions, scatter diagrams, histograms, etc., and calculating statistics like means variances and correlation coefficients. The term is also used when obtaining the low-dimensional representation of multivariate data by methods such as principal components analysis and the factor analysis.
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
Generalized method of moments (gmm) is the estimation method popular in econometrics which generalizes the method of the moments estimator. Essentially same as what is known as the
Least significant difference test is an approach to comparing a set of means which controls the family wise error rate at some specific level, let's assume it to be α. The hypothe
Non parametric maximum likelihood (NPML) is a likelihood approach which does not need the specification of the full parametric family for the data. Usually, the non parametric max
1.Sam Lucarelli, owner of Lucarelli Products, is evaluating whether to produce a new product line. After thinking through the production process and the costs of raw materials and
Omitted covariates is a term generally found in the connection with regression modelling, where the model has been incompletely specified by not including significant covariates.
a shop is selling laptops at regular price and at half price.If the laptops are regular price a day they will be at regular price tha day after with proba 2/3, if the laptops are a
Collector's problem : A problem which derives from the schemes in which packets of a particular brand of coffe, cereal etc., are sold with coupons, cards, or other tokens. There ar
Bivariate boxplot : A bivariate analogue of boxplot in which the inner area contains 50%of the data, and a 'fence' helps to identify the potential outliers. Robust methods or techn
I need a statistics project done. How much will it cost?
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