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Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations but not recommended for this task because of its sensitivity to the outliers and the fact that its value increases with the sample size.
Chernoff's faces : A method or technique for representing the multivariate data graphically. Each observation is represented by the computer-created face, the features of which are
the problem that demonstrates inference from two dependent samples uses hypothetical data from TB vaccinations and the number of new cases before and after vaccinations for cases o
Median absolute deviation (MAD) : It is the very robust estimator of the scale given by the following equation or, in other words we can say that, the median of the absolute
Convex hull trimming : A procedure which can be applied to the set of bivariate data to permit robust estimation of the Pearson's product moment correlation coef?cient. The points
Thomas Economic Forecasting, Inc. and Harmon Econometrics have the same mean error in forecasting the stock market over the last ten years. However, the standard deviation for Thom
Inliers is the term used for the observations most likely to be subject to error in situations where the dichotomy is developed by making a ‘cut’ on an ordered scale, and where th
What is statistical inference? Statistical inference can be defined as the method of drawing conclusions from data which are subject to random variations. This is based o
The transformation of the Pearson's product moment correlation coefficient, r, can be given by The statistic z has the normal distribution with mean here ρ is the pop
The interplay of the genes and environment on, for instance, the risk of disease. The term represents the step away from the argument as to whether the nature or nurture is the pre
Glejser test is the test for the heteroscedasticity in the error terms of the regression analysis which involves regressing the absolute values of the regression residuals for the
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