Business Statistics

Dimensionality Reduction is the process of reducing the number of random variables under consideration, and can be divided into feature selection and feature extraction. The…

Consensus Clustering is exposed to the risk of incorporating the biases and preconceptions of the analyst because it does not provide for an “objective” criterion…

Response Surface Methodology is a method, which design optimization is aimed at reducing the cost of expensive analysis methods and their associated numerical noise. It…

Optimal Design is depends on the statistical model and is assessed with respect to a statistical criterion, which is related to the variance-matrix of the…

Scalability is a system, which scales well will be able to maintain or even increase its level of performance or efficiency when tested by larger…

Censoring in Statistics is a condition in which the value of a measurement or observation is only partially known. It also occurs when a value…

This article describe about Survival Analysis, which is generally defined as a set of methods for analyzing data where the outcome variable is the time…

Life Expectancy refers to the expected number of years remaining for an individual at any given age. It is a statistical measure of the average…

Population Statistics is chosen to represent the population in a statistical analysis. It is related to social demography and demography.  A population consists of everything…

Margin of Error is often used in non-survey contexts to indicate observational error in reporting measured quantities. In a confidence interval, the range of values…

Sampling Error is an analysis performed by selecting by specific number of observations from a larger population. It is a statistical error that occurs when…

Resampling in Statistics involves the selection of randomized cases with replacement from the original data sample in such a manner that each number of the…