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Relative Purchasing Power Parity is an economic theory which predicts a relationship between the inflation rates of two countries over a specified period and the movement in the exchange rate between their two currencies over the same period.
It is widely used in mathematics and, to a lesser extent, in business, economics, and some engineering problems. There is a close connection between linear programs, eigenequations, John von Neumann's general equilibrium model, and structural equilibrium models (see dual linear program for details).
In economics, psychology, and other social sciences, regression analysis is typically used deductively to test hypotheses, but a kitchen sink regression does not follow this norm. Instead, the analyst throws " everything but the kitchen sink " into the regression in hopes of finding some statistical pattern.
Given a transformation between input and output values, described by a mathematical function, optimization deals with generating and selecting the best solution from some set of available alternatives, by systematically choosing input values from within an allowed set, computing the output of the function and recording the best output values found during the process.
GEE is higher in efficiency than generalized linear models (GLMs) in the presence of high autocorrelation. [1] When the true working correlation is known, consistency does not require the assumption that missing data is missing completely at random . [ 1 ]
Goal programming is a branch of multiobjective optimization, which in turn is a branch of multi-criteria decision analysis (MCDA). It can be thought of as an extension or generalisation of linear programming to handle multiple, normally conflicting objective measures. Each of these measures is given a goal or target value to be achieved.
The economic lot scheduling problem (ELSP) is a problem in operations management and inventory theory that has been studied by many researchers for more than 50 years. The term was first used in 1958 by professor Jack D. Rogers of Berkeley, [1] who extended the economic order quantity model to the case where there are several products to be produced on the same machine, so that one must decide ...
It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics. [ 1 ] It combines research from neuroscience , experimental and behavioral economics , and cognitive and social psychology.