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Question:
(a) (i) Define the term multicollinearity.
(ii) Explain why it is important to guard against multicollinearity.
(b) (i) Sometimes we encounter missing values in databases with a large number of fields. A common method of handling missing values is simply to omit from the analysis the records or fields with missing values. Explain why this may be dangerous.
(ii) Data analysts have turned to methods that would replace the missing value with a value substituted according to various criteria. Briefly give a choice of three possible replacement values for missing data.
(c) Variables tend to have ranges that vary greatly from each other. Data miners should normalise the numerical variables to standardise the scale of effect each variable has on the results. Name two techniques for normalisation and differentiate between each one of them.
(d) The usual measure used to evaluate estimation and prediction models is the mean square error (MSE). Write down the expression for the MSE.
(e) (i) Explain briefly the term measures of variability. (ii) Give four examples of typical measures of variability.
1. Assume the random vector (Trunk Space, Length, Turning diameter) of Japanese car is normally distributed and the unbiased estimators for its mean and variance are the truth. For
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Apl.send me nots on hypothesis testing sk question #Minimum 100 words accepted#
how many types of ogive are there
Need statistic assignment help. Need by Monday, 26Th May. Gretl has to be used compulsory.
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discuss the mathematical test of adequacy of index number of formulae. prove algebraically that the laspeyre, paasche and fisher price index formulae satisfies this test. What is
Index Number Meaning and Definitions of Index Number The index numbers are the special type of averages which are presented in percentages and computed on certain base.
Consider a Cournot duopoly with two firms (firm 1 and firm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
Each question, by default, should be solved INDIVIDUALLY, unless marked as \collaborative". Questions marked as \collaborative" implies that for those questions you are encourage
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