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Generalized method of moments (gmm) is the estimation method popular in econometrics which generalizes the method of the moments estimator. Essentially same as what is known as the
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
The term used when the aggregated data (for instance, aggregated over different areas) are analysed and the results supposed to apply to the relationships at the individual level.
Initial data analysis (IDA): The first phase in the examination of the data set which comprises number of informal steps including the following steps * checking the quality o
How large would the sample need to be if we are to pick a 95% confidence level sample: (i) From a population of 70; (ii) From a population of 450; (iii) From a population of 1000;
The technique of sampling used in the ecology for determining how much plants or animals are in a given fixed region. A set of randomly placed lines or points is recognized and the
It is the multivariate normal random vector which satisfies certain conditional independence suppositions. This can be viewed as a model framework which contains a wide range of st
ain why the simulated result doesn''t have to be exact as the theoretical calculation
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
Catastrophe theory : A theory of how little is the continuous changes in the independent variables which can have unexpected, discontinuous effects on the dependent variables. Exam
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