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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
Lie factor : A measure suggested by Tufte for judging the honesty of the graphical presentation of data. Which can be calculated as follows The values close to one are desir
Cause specific death rate : A death rate calculated for the people dying from the specific disease. For instance, the below given are the rates per 1000 people for three disease cl
Recurrence risk : Usually the probability that an individual experiences an event of interest given previous experience(s) of the event; for example, the probability of recurrence
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
Confounding: A procedure observed in some factorial designs in which it is impossible to differentiate between some main effects or interactions, on the basis of the particular d
Labour force survey : This survey carried out in the UK on the quarterly basis since the spring of year 1992. It covers 60 000 households and gives labour force and other detail
Relative risk is the measure of the association between the exposure to a particular factor and the risk or probability of a convinced outcome, calculated as follows therefor
Regression through the origin : In some of the situations a relationship between the two variables estimated by the regression analysis is expected to pass by the origin because th
Percentile : The set or group of divisions which produce exactly 100 equal parts in the series of continuous values, like blood pressure, height, weight, etc. Hence a person with b
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
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