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Indirect standardization is the procedure of adjusting the crude mortality or morbidity rate for one or more variables by making use of a known reference population. It may, for instance, be needed to compare cancer mortality rates of single and married women with the adjustment being made for the likely different age distributions in two groups. Age-specific mortality rates in the reference population are applied individually to the age distributions of the two groups to obtain the probable number of deaths in each. These can then be summed with the observed number of deaths in the two groups to obtain comparable mortality rates.
The analysis of data which are the functions observed continuously, for instance, functions of time. Basically a collection of statistical techniques or methods for answering quest
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
Information theory: This is the branch of applied probability theory applicable to various communication and signal processing problems in the field of engineering and biology. In
Hanging rootogram is he diagram comparing the observed rootogram with the ?tted curve, in which dissimilarities between the two are displayed in relation to the horizontal axis,
Chance events : According to the Cicero these are events which occurred or will occur in ways which are the uncertain-events which may happen, may not happen, or may happen in some
Incidental parameter problem is a problem which sometimes occurs when the number of parameters increases in the tandem with the number of observations. For instance, models for pa
Briefly explain the importance of forecasting for managers?
There are two periods. You observe that Jack consumes 100 apples in period t = 0, and 120 apples in period t = 1. That is, (c 0 ; c 1 ) = (100; 120) Suppose Jack has the util
Computer-assisted interviews : A method or technique of interviewing subjects in which the interviewer reads the question from the computer screen instead of the printed page, and
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
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