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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.
The number of employees absent from work at a large electronics manufacturing plant over aperiod of 106 days is given in the table below. 146 141 139 140 145 141 142 131 142 140
Likelihood is the probability of a set of observations provided the value of some parameter or the set of parameters. For instance, the likelihood of the random sample of n observ
Growth curve analysis is t he general term for methods dealing with development of the individuals over time. A classic instance includes recordings made on a group of children, sa
The diagnostic tools or devices used to approach the closeness to the linearity of the non-linear model. They calculate the deviation of so-called expectation surface from the plan
The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1 0 Reject H0 if |t | > t = 1.96
HOW TO OBTAIN THE LASPEYRES QUANTITY INDEX AND THE FORMULA
Laplace distribution : The probability distribution, f(x), given by the following formula Can be derived as the distribution of the difference of two independent random var
Perturbation theory : The theory useful in assessing how well a specific algorithm or the statistical model performs when the observations suffer less random changes. In very commo
Law of likelihood : Within framework of the statistical model, a particular set of data supports one statistical hypothesis or assumption better than another if the likelihood of t
Time series : The values of a variable recorded, generally at a regular interval, over the long period of time. The observed movement and fluctuations of several such series are
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