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Hazard plotting is based on the hazard function of a distribution, this procedure gives estimates of distribution parameters, the proportion of units failing by the given time period, percentiles of the distribution, the behaviour of failure rate of the units as a function of time, and conditional failure probabilities for units at any period of time.
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
Zero-inflated Poisson regression is the model for count data with the excess zeros. It supposes that with probability p the only possible observation is 0 and with the probabilit
The scatter plots of SRES1, RESI1 versus totexp demonstrates that there is non-linear relationship that exists as most of the points are below and above zero. The scatter plots sho
Median absolute deviation (MAD) : It is the very robust estimator of the scale given by the following equation or, in other words we can say that, the median of the absolute
Unequal probability sampling is the sampling design in which the different sampling units in the population have different probabilities of being included in sample. The differing
Response feature analysis is the approach to the analysis of longitudinal data including the calculation of the suitable summary measures from the set of repeated measures on each
Method of moments is the procedure for estimating the parameters in a model by equating sample moments to the population values. A famous early instance of the use of the proced
Group visible design is an arrangement of the v mn treatments in b blocks such that: * Each block comprises k distinct treatments k5v; * Each treatment is replicated r number
Reasons for screening data Garbage in-garbage out Missing data a. Amount of missing data is less crucial than the pattern of it. If randomly
Advantages and disadvantages of Integrated Economic Statistics
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