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Quantile regression is an extension of the classical least squares from estimation of the conditional mean models to the estimation of the variety of models for many conditional quantile functions. An instance of such a model is the least absolute deviation regression. Quantile regression is generally capable of giving a more complete statistical analysis of the stochastic relationship amongs random variables.
Quality control procedures is the statistical process designed to ensure that the precision and accuracy of, for instance, a laboratory test, are maintained within the acceptable
Minimum volume ellipsoid is a term for ellipsoid of the minimum volume which covers some specified proportion of the set of multivariate data. It is commonly used to construct rob
Bubble plot : A method or technique for displaying the observations which involve three variable values. Two of the variables are used to make a scatter diagram and values of the t
An oil 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 company
The nonparametric Bayesian inference approach to using the finite mixture distributions for modelling data suspected of the containing distinct groups of observations; this approac
1. The production manager of Koulder Refrigerators must decide how many refrigerators to produce in each of the next four months to meet demand at the lowest overall cost. There i
The results of a survey determined whether the age of a driver 21 years and older has any effect on the number of motor vehicle accidents in which he/she is involved. Question 1:
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
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
Last observation carried forward is a technique for replacing the observations of the patients who drop out of the clinical trial carried out over a time period. It consists of su
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