mba, Advanced Statistics

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

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Finite population correction, This term sometimes used to describe the extr...

This term sometimes used to describe the extra factor in variance of the sample mean when n sample values are drawn without the replacement from the finite population of size N. Th

Ecme algorithm, The Expectation/Conditional Maximization Either algorithm w...

The Expectation/Conditional Maximization Either algorithm which is the generalization of ECM algorithm attained by replacing some of the CM-steps of ECM which maximize the constrai

Define mean squarederror, Mean squarederror is the expected value of squar...

Mean squarederror is the expected value of square of the difference between an estimator and the true value of the parameter. If the estimator is unbiased then the mean of the squ

Matching, Matching is the method of making a study group and a comparison ...

Matching is the method of making a study group and a comparison group comparable with respect to the extraneous factors. Generally used in the retrospective studies when selecting

Persson rootze ´n estimator, Persson Rootze ´n estimator  is an estimator f...

Persson Rootze ´n estimator  is an estimator for the parameters in the normal distribution when the sample is truncated so that all the observations under some fixed value C are re

Fisher''s exact test, The alternative process to make use of the chi-square...

The alternative process to make use of the chi-squared statistic for assessing the independence of the two variables forming a two-by-two contingency table particularly when expect

Group divisible design, Group visible design is an arrangement of the v mn ...

Group visible design is an arrangement of the v mn treatments in b blocks such that: * Each block comprises k distinct treatments k5v; * Each treatment is replicated r number

Case Study: Test Market, You and your team have been hired as strategic con...

You and your team have been hired as strategic consultants by the hugely successful retailer known as “Cutie Pie”. The company sells many products, although one product in particul

Functional data analysis, The analysis of data which are the functions obse...

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

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