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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.
Randomization tests are the procedures for determining the statistical significance directly from the data with- out recourse to some particular sampling distribution. For instanc
Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 20 to be 115 or more?
Conditional probability : The probability that an event occurs given the outcome of other event. Generally written, Pr(A|B). For instance, the probability of a person being color b
Mauchly test is a test which a variance-covariance matrix of pair wise differences of responses in the set of longitudinal data is the scalar multiple of identity matrix, a proper
Hi , Im currently taking the course Financial Econometrics of Master of Finance at RMIT. I find it really difficult to understand the course''s material and now im having the majo
Ascertainment bias : A feasible form of bias, particularly in the retrospective studies, which arises from the relationship between the exposure to the risk factor and the probabil
Median is the value in a set of the ranked observations which divides the data into two parts of equal size. When there are an odd number of observations the median is middle v
The term used in a variety of methods in statistics, but mostly to refer to the categorical variable, with a less number of levels, under examination in an experiment as a possible
Per-experiment error rate is the possibility of the incorrectly rejecting at least one null hypothesis or assumption in the experiment including one or more tests or comparisons,
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