mba, Advanced Statistics

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

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Ain why the simulated result doesn''t have to be exact as the, ain why the ...

ain why the simulated result doesn''t have to be exact as the theoretical calculation

Dummy variables, The variables resulting from the recoding categorical vari...

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

Uncertainty analysis, Uncertainty analysis is the process for assessing th...

Uncertainty analysis is the process for assessing the variability in the outcome variable that is due to the uncertainty in estimating the values of input parameters. A sensitivit

Determinant, A value related with the square matrix which represents sums a...

A value related with the square matrix which represents sums and products of its elements. For instance, if the matrix is   then the determinant of A (conventionally written as

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Conjugate prior : The distribution for samples from the particular probability distribution such that the posterior distribution at each stage of the sampling is of the identical f

Clinical vs. statistical significance, Clinical vs. statistical significanc...

Clinical vs. statistical significance : The distinction among results in terms of their possible clinical importance rather than simply in terms of their statistical importance. Wi

Linked micro map plot, Linked micro map plot is a plot which provides the ...

Linked micro map plot is a plot which provides the graphical overview and the details for spatially indexed statistical summaries. The plot shows the spatial patterns and statisti

Indirect standardization, Indirect standardization is the procedure of adju...

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 in

Median, Median is the value in a set of the ranked observations which divi...

Median is the value in a set of the ranked observations which divides the data into two parts of equal size. When there are an odd number of observations the median is middle v

Principal components analysis, Principal components analysis is a process ...

Principal components analysis is a process for analysing multivariate data which transforms original variables into the new ones which are uncorrelated and account for decreasing

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