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Probability judgements: Human beings often require assessing the probability which some event will occur and accuracy of these probability judgements often determines success of our actions and our decisions. There is strong evidence that the human probability judgements are biased on the overestimation of low probabilities.
A vague concept which occurs all through statistics. Essentially the term means the number of independent units of the information in an easy relevant to the estimation of the para
Normality - Reasons for Screening Data Prior to analyzing multivariate normality, one should consider univariate normality Histogram, Normal Q-Qplot (values on x axis
Non-response is the term generally used for the failure to give the relevant information being collected in the survey. Poor response can be because of the variety of causes, for
Ignorability : The missing data mechanism is said to be ignorable for likelihood inference if (1) the joint likelihood for the responses of the interest and missing data indicators
Matching is the method of making a study group and a comparison group comparable with respect to the extraneous factors. Generally used in the retrospective studies when selecting
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
The graphic representation of the alternatives in a decision making problem which summarizes all the possibilities foreseen by the decision maker. For instance, suppose we are give
Median absolute deviation (MAD) : It is the very robust estimator of the scale given by the following equation or, in other words we can say that, the median of the absolute
Kaiser's rule is the rule frequently used in the principal components analysis for selecting the suitable the number of components. When the components are derived from correlati
The special cases of the probability distributions in which the random variable's distribution is concentrated at one point only. For instance, a discrete uniform distribution when
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