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Lorenz curve: Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically increasing as the exposure becomes heavier, the data have to be arranged again from the lowest to the highest risk before the calculation of cumulative percentages. Associated with such type of curve is the Gini index defined as twice the area between curve and diagonal line. This index is lies between zero and one, with the larger values indicating the larger variability while smaller ones signify larger uniformity. The further the Lorenz curve lies below line of equality, the more unequal is the distribution of, the figure for this is given below
importance of mathamatical expection in business
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The approach to statistics based on a frequency view of probability in which it is supposed that it is possible to consider an in?nite sequence of the independent repetitions of th
I have a problem I am trying to solve. An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is
Q. A toothpaste company want to know if its new product increases the length of time in-between dentist visit to its user. The company sets a target for 180 days to determine if it
The procedure in which the prior distribution is required in the application of Bayesian inference, it is determined from empirical evidence, namely same data for which the posteri
Per-experiment error rate is the possibility of the incorrectly rejecting at least one null hypothesis or assumption in the experiment including one or more tests or comparisons,
The division of a sample of observations into several classes, together with the number of observations in each of them. It acts as a useful summary of the main features of the da
Multivariate data is the data for which each observation consists of the values for more than one random variable. For instance, measurements on the blood pressure, temperature an
In the experimental studies, the collection of individuals to which the experimental process of interest is not applied. In the observational studies, most often used for a collect
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