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A term usually used for unobserved individual heterogeneity. Such variation is of main concern in the medical statistics particularly in the analysis of the survival times where hazard functions can be strongly influenced by the selection effects operating in the population. There are several possible sources of this heterogeneity, the most apparent of which is that it reflects the biological differences, so that, for instance, some individuals are born with the weaker heart, or a genetic disposition for cancer. A further prospect is that the heterogeneity happens from the occured weaknesses which result from the stresses of life. Failure to take account of this kind of variation might often obscure comparisons between groups, for instance, by measures of relative risk. A simple model which attempts to permit for the variation between individuals is given as follows where Z is the quantity specific to an individual, considered as the random variable over the population of individuals, and the base rate is denoted by λ(t) . What is observed in a population for which this type of model holds is not the individual hazard rate but the net result for several individuals with different values of Z.
Independent component analysis (ICA) is the technique for analyzing the complex measured quantities thought to be mixtures of other more fundamental quantities, into their fundamen
An investor with a stock portfolio sued his broker, claiming that a lack of diversification in his portfolio had led to poor performance. The data, shown below, are the rates of re
Case-cohort study : The research design in epidemiology which involves the sampling of controls at the outset of the study that is to be compared with the cases from the cohort. Th
Bootstrap : The data-based simulation method/technique for the statistical inference which can be used to study the variability of the estimated characteristics of the probability
Nearest-neighbour methods are the methods of discriminant analysis are based on studying the training set subjects much similar to the subject to be classified. Classification mig
The method or technique for producing the sequence of parameter estimates that, under the mild regularity conditions, converges to maximum likelihood estimator. Of particular signi
Maximum likelihood estimation is an estimation procedure involving maximization of the likelihood or the log-likelihood with respect to the parameters. Such type of estimators is
relevancy of time series in business management
A vague concept which occurs all through statistics. Essentially the term means the number of independent units of the information in an easy relevant to the estimation of the para
Population pyramid : The diagram designed to show the comparison of the human population by sex and age at a given instant time, consisting of a pair of the histograms, one for eve
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