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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 removed. The estimator takes use of both the information given by the recorded values greater than C and by the number of the observations falling below C.
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
Influence statistics: The range of statistics designed to assess the effect or the in?uence of an observation in determining results of the regression analysis. The general approa
The Null Hypothesis - H0: β0 = 0, H0: β 1 = 0, H0: β 2 = 0, Β i = 0 The Alternative Hypothesis - H1: β0 ≠ 0, H0: β 1 ≠ 0, H0: β 2 ≠ 0, Β i ≠ 0 i =0, 1, 2, 3
Law of likelihood : Within framework of the statistical model, a particular set of data supports one statistical hypothesis or assumption better than another if the likelihood of t
Lorenz curve : Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically in
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Occam's razor is an early statement of the parsimony principle, which was given by William of Occam (1280-1349) namely 'entia non sunt multiplicanda praeter necessitatem'; which m
Attack rate : This term frequently used for the incidence of the disease or condition in the particular group, or during a limited interval of time, or under the special circumstan
The regression analysis is used to fit a model describing the relationship of a dependent variable with independent variable(s). Here we have fitted three regression models:
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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