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Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations but not recommended for this task because of its sensitivity to the outliers and the fact that its value increases with the sample size.
Observational study is the study in which the objective is to discover cause-and-effect relationships but in which it is not feasible to use the controlled experimentation, in th
Formal graphical representation of the "causal diagrams" or the "path diagrams" where the relationships are directed but acyclic (that is no feedback relations allowed). Plays an
MAREG is the software package for the analysis of the marginal regression models. The package permits the application of generalized estimating equations and the maximum likelihoo
relevancy of time series in business management
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
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 >
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
Complier average causal effect (CACE): The treatment effect amid true compliers in the clinical trial. For the suitable response variable, the CACE is given by the difference in o
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
Intercropping experiments are the experiments including growing two or more crops at same time on the same patch of land. The crops are not required to be planted nor harvested at
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