forecasting, Advanced Statistics

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Briefly explain the importance of forecasting for managers?

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Decision Analysis, Build-Rite construction has received favorable publicity...

Build-Rite construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, s

Canonical correlation analysis, Canonical correlation analysis : A process ...

Canonical correlation analysis : A process of analysis for investigating the relationship between the two groups of variables, by ?nding the linear functions of one of the sets of

Two-phase sampling, Two-phase sampling is the sampling scheme including tw...

Two-phase sampling is the sampling scheme including two distinct phases, in the first of which the information about the particular variables of interest is collected on all the m

Determinant, A value related with the square matrix which represents sums a...

A value related with the square matrix which represents sums and products of its elements. For instance, if the matrix is   then the determinant of A (conventionally written as

Describe hurdle model, Hurdle Model:  The model for count data which postul...

Hurdle Model:  The model for count data which postulates two processes, one generating the zeros in the data and one generating positive values. The binomial model decides the bina

Disease surveillance, The procedure which targets to use the health and hea...

The procedure which targets to use the health and health-related data which precede diagnosis and/or confirmation to identify possible outbreaks of the disease, mobilize a rapid re

Dot plot, The more effective display than a number of other methods or tech...

The more effective display than a number of other methods or techniques, for instance, pie charts and bar charts, for displaying the quantitative data which are labeled. An instanc

Orthogonal, Orthogonal is a term which occurs in several regions of the st...

Orthogonal is a term which occurs in several regions of the statistics with different meanings in each case. Most commonly the encountered in the relation to two variables or t

Explain Grade of membership model, Grade of membership model: This is the ...

Grade of membership model: This is the general distribution free method for the clustering of the multivariate data in which only categorical variables are included. The model ass

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