Define the term multicollinearity, Applied Statistics

Assignment Help:

Question:

(a)
(i) Define the term multicollinearity.

(ii) Explain why it is important to guard against multicollinearity.

(b) (i) Sometimes we encounter missing values in databases with a large number of fields. A common method of handling missing values is simply to omit from the analysis the records or fields with missing values. Explain why this may be dangerous.

(ii) Data analysts have turned to methods that would replace the missing value with a value substituted according to various criteria. Briefly give a choice of three possible replacement values for missing data.

(c) Variables tend to have ranges that vary greatly from each other. Data miners should normalise the numerical variables to standardise the scale of effect each variable has on the results. Name two techniques for normalisation and differentiate between each one of them.

(d) The usual measure used to evaluate estimation and prediction models is the mean square error (MSE). Write down the expression for the MSE.

(e) (i) Explain briefly the term measures of variability.
(ii) Give four examples of typical measures of variability.


Related Discussions:- Define the term multicollinearity

Measures of dispersion, Measures of Dispersion ...

Measures of Dispersion Box 3: Food vs. Oil Below are the figures for foodgrain procurement   and cr

Kolmogorov-smirnov - normal probability plot, The Null Hypothesis - H0:  Th...

The Null Hypothesis - H0:  The random errors will be normally distributed The Alternative Hypothesis - H1:  The random errors are not normally distributed Reject H0: when P-v

Determine probability that the person tested has the disease, There are two...

There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on

Define the term multicollinearity, Question: (a) (i) Define the term ...

Question: (a) (i) Define the term multicollinearity. (ii) Explain why it is important to guard against multicollinearity. (b) (i) Sometimes we encounter missing values

Aviation legislation - SUPPLEMENTAL TYPE CERTIFICATION, JAR 21 SUPPLEMENTAL...

JAR 21 SUPPLEMENTAL TYPE CERTIFICATION JAR 21 Part E introduces the need for Supplemental Type Certification when a manufacturer wishes to make major changes to the Type Desig

Age at first marrage, get a questionnaire that captured age at first marria...

get a questionnaire that captured age at first marriage

Standard error, Standard Error The measure of reliability of the estima...

Standard Error The measure of reliability of the estimating equation that we have developed is given by standard error of estimate. The standard error of estimate represented b

Regression, Regression line drawn as Y=C+1075x, when x was 2, and y was 239...

Regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Small sample test for mean, If the sample size is less than 30, then we nee...

If the sample size is less than 30, then we need to make the assumption that X (the volume of liquid in any cup) is normally distributed. This forces    (the mean volume in the sam

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd