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Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted to give a appropriate basis for the inferences and the further practical calculations to be done.
The biggest and smallest variate values among the sample of observations. Significant in various regions, for instance flood levels of the river, speed of wind and snowfall.
Reasons for screening data Garbage in-garbage out Missing data a. Amount of missing data is less crucial than the pattern of it. If randomly
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
The variables resulting from the recoding categorical variables with more than two categories into the sequence of binary variables. Marital status, for instance, if originally lab
The term used when the aggregated data (for instance, aggregated over different areas) are analysed and the results supposed to apply to the relationships at the individual level.
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
This is the theorem which states that if the error terms in a multiple regression have the same variance and are not corrected, then the estimators of the parameters in the model p
Naor's distribution is the discrete probability distribution which arises from the following model; Assume an urn contains n balls of which one is red and the remainder is whit
The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedasticity errors and no heteroscedasticity exists The Alternative Hypothesis - H1: β 1 ≠ 0 i.e. there is no homoscedasti
The graph for Partial Autocorrelation Function for RES1 shows that there is no autocorrelation even though there are alternating spikes because they fall inside the 5% significance
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