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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 composed of four diverse components, seasonal variation, secular trend, cyclical variation, and the irregular variation. An instance from medicine is the incidence of the disease recorded yearly over several decades. Such type of data usually needs special methods for their analysis because of presence of the serial correlation between separate observations. Most often time series are analyzed by the linear models such the classic family of the autoregressive moving average models.
But there are number of observable phenomena which cannot be accounted for adequately by the linear models and which give rise to the nonlinear time series, for which special models have been developed, for instance, autoregressive conditional heteroscedastic models.
Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p
Attitude scaling : The process of analysing the positions of the individuals on scales purporting to measure attitudes, for instance a liberal-conservative scale, ora risk-willingn
Average age at death : A ?awed statistic summarizing expectancy of the life and other aspects of the mortality. For instance, a study comparing average age at the death for male sy
Model is the description of the supposed structure of a set of observations which can range from a fairly imprecise verbal account to, more commonly, a formalized mathematical exp
Ask quesoil 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 com
Atomistic fallacy : A fallacy which arises because of the association between two variables at the individual level might vary from the association between the same two variables m
Chi-squared distribution : It is the probability distribution, f (x), of the random variable de?ned as the sum of squares of the number (v) of independent standard normal variables
relevancy of time series in business management
Probability distribution : For the discrete random variable, a mathematical formula which provides the probability of each value of variable. See, for instance, binomial distributi
The plot of the number of cases of the disease against the time period. A large and sudden increase corresponds to an epidemic. The example of this is shown in the figure drawn bel
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