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Response surface methodology (RSM): The collection of the statistical and mathematical methods useful for improving, developing, and optimizing processes with significant applications in the design, development and formulation of the new products, as well as in the improvement of the existing product designs. The extensive applications of such type of methodology are in the industrial world particularly in the situations where many input variables potentially influence some performance measure or the quality characteristic of the product or process. The basic purpose of this methodology is to model response based on the group of the experimental factors, and to determine optimal settings of the experimental factors which maximize or minimize the response. Most of the applications include fitting and checking the adequacy of the models of form. The vector β and matrix B contain parameters of the model.
Human capital model : The model for evaluating the economic implication of the disease in terms of the economic loss of a person succumbing to morbidity or the mortality at some pa
Principal factor analysis is the method of factor analysis which is basically equivalent to a principal components analysis performed on reduced covariance matrix attained by repl
The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1 0 Reject H0 if Q = ESS/2 >
Briefly explain the importance of forecasting for managers?
Least significant difference test is an approach to comparing a set of means which controls the family wise error rate at some specific level, let's assume it to be α. The hypothe
Regression to the mean is the procedure first noted by Sir Francis Galton that 'each peculiarity in man is shared by his kinsmen, but on average to the less degree.' Hence the ten
Lancaster models : The means of representing the joint distribution of the set of variables in terms of the marginal distributions, supposing all the interactions higher than a par
Protocol is the formal document outlining the proposed process for carrying out the clinical trial. The basic features of the document are to study the objectives, patient selecti
moving and semi average method graphical reprsentation
calculate the mean yearly value using the average unemployment rate by month
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