Efficiency, Advanced Statistics

This term applied in the context of comparing the different methods and techniques of estimating the same parameter; the estimate with the lowest variance being regarded as the most efficient. It is also used when comparing competing experimental designs, with one of the design being more efficient than another if it can attain the same accuracy with fewer resources.

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The initial evaluation of the set of observations to see whether or not they appear to satisfy the hypotheses or assumptions of the methods to be used in their analysis. Techniques