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VIF is the abbreviation of variance inflation factor which is a measure of the amount of multicollinearity that exists in a set of multiple regression variables. *The VIF value
Contour plot : A topographical map drawn from data comprising observations on the three variables. One variable is represented on horizontal axis and the second variable is represe
5. Packages from a machine a normally distributed with a mean 200g and its standard deviation 2grams. Find the probability that a package from the machine weighs a) Less than
The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedasticity errors and no heteroscedasticity exists The Alternative Hypothesis - H1: β 1 ≠ 0 i.e. there is no homoscedasti
Half-normal plot is a plot for diagnosing the model inadequacy or revealing the presence of outliers, in which the absolute values of, for instance, the residuals from the multipl
Banach's match-box problem : The person carries two boxes of matches, one in his left and one in his right pocket. At first they comprise N number of matches each. When the person
ACC – A pioneer in the Indian cement industry Associated Cement Companies Ltd. (ACC) came into existence in 1936, after the merger of 10 companies belonging to four important bus
Economic Interpretation of the Optimum Simplex solution
Intervention analysis in time series : The extension of the autoregressive integrated moving average models applied to time series permitting for the study of the magnitude and str
Uncertainty analysis is the process for assessing the variability in the outcome variable that is due to the uncertainty in estimating the values of input parameters. A sensitivit
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