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Median absolute deviation (MAD): It is the very robust estimator of the scale given by the following equation
or, in other words we can say that, the median of the absolute deviations from the median of data. In order to use MAD as the consistent estimator of the standard deviation it is multiplied by a scale factor which depends on the distribution of the data. For normally distributed data the constant is 1.4826 and expected value of 1.4826 MAD is approximately equal to population standard deviation.
How large would the sample need to be if we are to pick a 95% confidence level sample: (i) From a population of 70; (ii) From a population of 450; (iii) From a population of 1000;
Advantages and disadvantages of Integrated Economic Statistics
It is an informal method of assessing the effect of the publication bias, generally in the context of the meta-analysis. The effect measures from each of the reported study are plo
It is the technique used in the clinical trials when it is possible to make an acceptable place before an active treatment but not to make the two active treatments identical. In t
Formal graphical representation of the "causal diagrams" or the "path diagrams" where the relationships are directed but acyclic (that is no feedback relations allowed). Plays an
Zero sumgame is a game played by the number of persons in which the winner takes all stakes given by the losers so that the algebraic sum of gains at any stage is zero. Number of
1.Sam Lucarelli, owner of Lucarelli Products, is evaluating whether to produce a new product line. After thinking through the production process and the costs of raw materials and
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
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
You may have the opportunity to buy some electronic components. These components may be reliable (1) or unreliable (2). The potential pro?ts are £10,000 if the components are rel
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