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Outlier is an observation which seems to deviate markedly from the other members of the sample in which it happens. In the set of systolic blood pressures, {125, 128, 130, 131, 198}, for instance, 198 might be considered an outlier. More formally the term refers to the observation which seems to be inconsistent with the rest of the data, relative to a supposed model. Such extreme observations might be reflecting some abnormality in the measured characteristic of the subject, or they might result from an error in the measurement or recording.
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
Multi co linearity is the term used in the regression analysis to indicate situations where the explanatory variables are related by a linear function, making the inference of the
4-13. Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previou
The estimator of the group by the time period interaction in a study in which the subjects in two different groups are observed in two different time periods. Normally one of th
A comprehensive regression analysis of the case study London has been carried out to test the 4 assumptions of regression: 1. Variables are normally distributed 2. Linear rel
Mean-range plot is the graphical tool or device useful in selecting a transformation in the time series analysis. The range is plotted against the mean for each of the seasona
The Null Hypothesis - H0: γ 1 = γ 2 = ... = 0 i.e. there is no heteroscedasticity in the model The Alternative Hypothesis - H1: at least one of the γ i 's are not equal
HOW TO OBTAIN THE LASPEYRES QUANTITY INDEX AND THE FORMULA
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
A statewide survey of 1,706 California adults’ residents include the following question: would you favor or oppose providing a path to citizenship for illegal immigrants in the U.S
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