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Bayes factor: A summary of evidence for the modelM1 against the another modelM0 provided by the set of data D, which can be used in the model selection. Given by the ratio of posterior to previous odds,
Twice the logarithm of B10 is on the similar scale as the deviance and the likelihood ratio test statistic. The following scale is many times useful for interpreting the values of B10;
Very sensitive to the assumed previous distribution of the models.
The measure of the degree to which the particular model differs from the saturated model for the data set. Explicitly in terms of the likelihoods of the two models can be defined a
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The method or technique for producing the sequence of parameter estimates that, under the mild regularity conditions, converges to maximum likelihood estimator. Of particular signi
(a) You are trying to develop a strategy for investing in two different stocks, Stock A and Stock B. The anticipated annual return for a $1000 investment in each stock under four
Hanging rootogram is he diagram comparing the observed rootogram with the ?tted curve, in which dissimilarities between the two are displayed in relation to the horizontal axis,
A term usually used for unobserved individual heterogeneity. Such variation is of main concern in the medical statistics particularly in the analysis of the survival times where ha
Profile plots is a technique of representing the multivariate data graphically. Each of the observation is represented by a diagram comprising of a sequence of equispaced vertical
Cascadedparameters: A group of parameters which is interlinked and where selecting the value for the ?rst parameter affects the choice and option available in the subsequent param
Cohort component method : A broadly used method or technique of forecasting the age- and sex-speci?c population to the upcoming years, in which the initial population is strati?ed
Machine learning is a term which literally means the ability of a machine to recognize patterns which have occurred repetitively and to improve its performance based on the past
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