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The process of providing the numerical value for the population parameter on the basis of information gathered from a sample. If a single ?gure is computed for the unknown parameter the process is known as point estimation. If an interval is computed which is likely to include the parameter, then the procedure is known as interval estimation.
An oil 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 company
The time series for RESI1, HI1 and COOK1 have appeared again with different outlier values even though the 17 outliers found early were removed.
Biplots: It is the multivariate analogue of the scatter plots, which estimates the multivariate distribution of the sample in a few dimensions, typically two and superimpose on th
Unequal probability sampling is the sampling design in which the different sampling units in the population have different probabilities of being included in sample. The differing
R-squared is regarded as the coefficient of determination and is used to give the proportion of the fluctuation of the variance of one variable to another variable. R-squared also
Quota sample is the sample in which the units are not selected at the random, but in terms of a particular number of units in each of a number of categories; for instance, 10 men
1. You are interested in investigating if being above or below the median income (medloinc) impacts ACT means (act94) for schools. Complete the necessary steps to examine univariat
need answers to questions in book advanced and multivariate statistical methods
The Null Hypothesis - H0: γ 1 = γ 2 = ... = 0 i.e. there is no heteroscedasticity in the model The Alternative Hypothesis - H1: at least one of the γ i 's are not equal
Bivariate boxplot : A bivariate analogue of boxplot in which the inner area contains 50%of the data, and a 'fence' helps to identify the potential outliers. Robust methods or techn
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