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Lorenz curve: Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically increasing as the exposure becomes heavier, the data have to be arranged again from the lowest to the highest risk before the calculation of cumulative percentages. Associated with such type of curve is the Gini index defined as twice the area between curve and diagonal line. This index is lies between zero and one, with the larger values indicating the larger variability while smaller ones signify larger uniformity. The further the Lorenz curve lies below line of equality, the more unequal is the distribution of, the figure for this is given below
Point scoring is an easy distribution free method which can be used for the prediction of a response which is a binary variable from the observations on several explanatory variab
a company suppliers specialized, high tensile Pins to customers. It uses an automatic lathe to produce the pins. Due to the factors such as vibration, temperature and wear and tear
Kappa coefficient : The chance corrected index of the agreement between, for instance, judgements and diagnoses made by the two raters. Calculated as the ratio of the noticed exces
A name sometimes given to the type of diagram generally used in meta-analysis, in which point estimates and confidence intervals are displayed for all the studies included in the a
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
importance of mathamatical expection in business
Non linear mapping (NLM ) is a technique for obtaining a low-dimensional representation of the set of multivariate data, which operates by minimizing a function of the differences
Reinterviewing is the second interview for a sample of survey respondents in which questions of the original interview (or the subset of them) are repeated again. The same methods
Method of moments is the procedure for estimating the parameters in a model by equating sample moments to the population values. A famous early instance of the use of the proced
Barnard, George Alfred (1915^2002) : Born in Walthamstow in the east of London, Barnard achieved a scholarship to St. John's College, Cambridge, from where he graduated in the math
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