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A unified approach to all problems of prediction, estimation, and hypothesis testing. It is based on concept of the decision function, which tells the performer of experiment how to conduct the statistical aspects of an experiment and which action to take for each possible outcome. Choosing the decision function needs a loss function to be defined which assigns numerical values to making bad or good decisions. Explicitly a general loss function is denoted by L d; expressing how bad it would be to make decision d if the parameter value were. A quadratic loss function, it could be defined as and a bilinear loss function as
Lagging indicators: The part of a collection of the economic time series designed to give information about the broad swings in measures of the aggregate economic activity known a
The method or technique for producing the sequence of parameter estimates that, under the mild regularity conditions, converges to maximum likelihood estimator. Of particular signi
Raking adjustments is an alternative to the post stratification adjustments in the complex surveys which ensures that the adjusted weights of the respondents conform to each of th
Higher criticism is a multiple-comparison test concept arising from the situation where there are number of independent tests of significance and interest lies in the rejecting jo
Principal factor analysis is the method of factor analysis which is basically equivalent to a principal components analysis performed on reduced covariance matrix attained by repl
O'Brien's two-sample tests are the extensions of the conventional tests for assessing the differences between treatment groups which take account of the possible heterogeneous nat
Probabilistic matching is a method developed to maximize the accuracy of the linkage decisions based on the level of agreement and disagreement among the identifiers on different
Clinical trials : Medical experiments designed to assess which of two or more treatments is much more effective. It is based on one of the oldest philosophy of the scienti?c resear
The rapid development or growth of the disease in a community or region. Statistical thinking has made very much significant contributions to the understanding of such type of phen
The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedasticity errors and no heteroscedasticity exists The Alternative Hypothesis - H1: β 1 ≠ 0 i.e. there is no homoscedasti
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