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The statistical methods for estimation and inference which are based on a function of sample observations, probability distribution of which does not rely upon a complete speci?cation of the probability distribution of the population from which the sample was drawn. Consequently the methods are valid under the relatively general suppositions about the underlying population. Number of times such methods include only the ranks of the observations rather than observations themselves. The example is Wilcoxon's signed rank test and Friedman's two directional analysis of the variance. In number of cases these tests are marginally less powerful than their analogues which suppose a particular population distribution even when the supposition is true. This is also generally called as the non- parametric method although the terms are not completely synonymous.
Lagging indicators: The part of a collection of the economic time series designed to give information about the broad swings in measures of the aggregate economic activity known a
1. The production manager of Koulder Refrigerators must decide how many refrigerators to produce in each of the next four months to meet demand at the lowest overall cost. There i
Hill-climbing algorithm is an algorithm which is made in use in those techniques of cluster analysis which seek to find the partition of n individuals into g clusters by optimizin
Committees to monitor the accumulating data from the clinical trials. Such committees have chief responsibilities for ensuring the continuing safety of the trial participants, rele
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
Higher criticism is a multiple-comparison test concept arising from the situation where there are number of independent tests of significance and interest lies in the rejecting jo
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
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
Hello-goodbye effect : The phenomenon initially described in psychotherapy research, but one which might arise whenever a subject is assessed on two occasions, with some interventi
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
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