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Respondent-driven sampling (RDS): The form of snowball sampling which starts with the recruitment of the small number of people in the target population to serve as the seeds. After participating the seeds are asked to recruit other people they know in target population. The sampling continues in this manner with the current sample members recruiting the next wave of the sample members until the desired sample size is achived. By using the mathematical model which weights the sample to compensate for the fact that the sample was collected in a non-random manner, the data provided by such a sampling scheme can be used to give asymptotically unbiased estimates about target population. An instance of the use of this approach is the estimation of the drug user's in New York who have HIV.
Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations b
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
Probability weighting is the procedure of attaching weights equal to inverse of the probability of being selected, to each respondent's record in the sample survey. These weights
Centile reference charts : Charts which are used inmedicine to observe the clinical measurements on individual patients in the context of the population values. If the population i
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
Reasons for screening data Garbage in-garbage out Missing data a. Amount of missing data is less crucial than the pattern of it. If randomly
Component bar chart : A bar chart which shows the component parts of the aggregate represented by the whole length of the bar. The component parts are shown as the sectors of bar w
facts and statistics about daycare
Mean squarederror is the expected value of square of the difference between an estimator and the true value of the parameter. If the estimator is unbiased then the mean of the squ
Briefly explain the importance of forecasting for managers?
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