mba, Advanced Statistics

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Mention the characteristics of Statistics. Explain any two applications of Statistics.

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Random allocation, Random allocation is a technique for creating the treat...

Random allocation is a technique for creating the treatment and control groups particularly in accordance of the clinical trial. Subjects receive the active treatment or the place

Parks test, The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedastici...

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Initial data analysis (IDA): The first phase in the examination of the data set which comprises  number of informal steps including the following steps * checking the quality o

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Method of moments   is the procedure for estimating the parameters in a model by equating sample moments to the population values. A famous early instance of the use of the proced

Decision Models., An oil company thinks that there is a 60% chance that the...

An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is oil in the ground, the soil test comes

Explain prevalence, Prevalence : The measure of the number of people in a p...

Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p

Response feature analysis, Response feature analysis is the approach to th...

Response feature analysis is the approach to the analysis of longitudinal data including the calculation of the suitable summary measures from the set of repeated measures on each

Atomistic fallacy, Atomistic fallacy : A fallacy which arises because of th...

Atomistic fallacy : A fallacy which arises because of the association between two variables at the individual level might vary from the association between the same two variables m

The time series analysis on the number of babies, importance of time series...

importance of time series on the number of babies given birth

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