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The term normal score is used with two different meanings in statistics. One of them relates to creating a single value which can be treated as if it had arisen from a standard normal distribution (zero mean, unit variance). The second one relates to assigning alternative values to data points within a dataset, with the broad intention of ...
In the philosophy of economics, economics is often divided into positive (or descriptive) and normative (or prescriptive) economics. Positive economics focuses on the description, quantification and explanation of economic phenomena, [ 1 ] while normative economics discusses prescriptions for what actions individuals or societies should or ...
In another usage in statistics, normalization refers to the creation of shifted and scaled versions of statistics, where the intention is that these normalized values allow the comparison of corresponding normalized values for different datasets in a way that eliminates the effects of certain gross influences, as in an anomaly time series. Some ...
Many test statistics, scores, and estimators encountered in practice contain sums of certain random variables in them, and even more estimators can be represented as sums of random variables through the use of influence functions. The central limit theorem implies that those statistical parameters will have asymptotically normal distributions.
An informative prior expresses specific, definite information about a variable. An example is a prior distribution for the temperature at noon tomorrow. A reasonable approach is to make the prior a normal distribution with expected value equal to today's noontime temperature, with variance equal to the day-to-day variance of atmospheric temperature, or a distribution of the temperature for ...
There is an important difference between norms and normative propositions, although they are often expressed by identical sentences. "You may go out" usually expresses a norm if it is uttered by the teacher to one of the students, but it usually expresses a normative proposition if it is uttered to one of the students by one of his or her ...
These are the stories you liked, loved and shared the most in 2015.
What is missing from these statistics is the relevant base rate information. The doctor should be asked, "Out of the number of people who test positive (base rate group), how many have cancer?" [ 6 ] In assessing the probability that a given individual is a member of a particular class, information other than the base rate needs to be accounted ...