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Latent class analysis is a technique of assessing whether the set of observations including q categorical variables, in specific, binary variables, consists of the number of different groups or the classes within which the variables are independent. It is essentially a finite mixture model in which the component distributions are product of the q Bernoulli distributions, one for each of the binary variables in data. Parameters in such type of models can be estimated by the maximum likelihood estimation by means of the EM algorithm. It can be considered as either an analogue of the factor analysis for categorical variables, or the model of cluster analysis for such type of data.
Confidence interval : A range of the values, calculated from the sample observations which is believed, with the particular probability, to posses the true parameter value. A 95% c
HOW TO OBTAIN THE LASPEYRES QUANTITY INDEX AND THE FORMULA
Cascadedparameters: A group of parameters which is interlinked and where selecting the value for the ?rst parameter affects the choice and option available in the subsequent param
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
Mention the characteristics of Statistics. Explain any two applications of Statistics.
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
The estimator of the group by the time period interaction in a study in which the subjects in two different groups are observed in two different time periods. Normally one of th
Literature controls : The patients with the disease of interest who have received, in the past, one of two treatments under the investigation, and for whom the results have been pu
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