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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.
Human capital model : The model for evaluating the economic implication of the disease in terms of the economic loss of a person succumbing to morbidity or the mortality at some pa
Item-total correlation is an extensively used method for checking the homogeneity of the scale made up of number of items. It is simply the Pearson's product moment correlation c
Collector's problem : A problem which derives from the schemes in which packets of a particular brand of coffe, cereal etc., are sold with coupons, cards, or other tokens. There ar
Bayesian inference : An approach to the inference based largely on Bayes' Theorem and comprising of the below stated principal steps: (1) Obtain the likelihood, f x q describing
Cluster analysis : A set of methods or techniques for constructing a sensible and informative classi?cation of an initially unclassi?ed set of data, using variable values observed
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
Pattern recognition is a term for a technology that recognizes and analyses patterns automatically by machine and which has been used successfully in many areas of application inc
Principal components regression analysis is a process often taken in use to overcome the problem of multicollinearity in the regression, when simply deleting a number of the expla
Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:
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
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