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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
R-squared is regarded as the coefficient of determination and is used to give the proportion of the fluctuation of the variance of one variable to another variable. R-squared also
An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company
Influence statistics: The range of statistics designed to assess the effect or the in?uence of an observation in determining results of the regression analysis. The general approa
The procedures used for determining how the quality of life is affected by the environment, in particular by factors such as air and solid wastes, water pollution, hazardous substa
Clinical trials : Medical experiments designed to assess which of two or more treatments is much more effective. It is based on one of the oldest philosophy of the scienti?c resear
MEANING ,IMPORTANCE AND RELEAVANCE OF SCATTER DIAGRAM
Demographic data: Age: continuous variable Gender: categorical variable with males coded 1, females coded 2. Relationship status: categorical variable 1 to 5. Rational
Given: There are 4 jobs and 4 persons. The cost incurred for each person and each job is as follows: Persons Job 1 Job 2 Job 3 Job 4 A 10 9 21 11 B 15 12 25 17 C 12 10 20 12 D 17
Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p
How to estimate MLE for statistical anslysis using Markov Model?
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