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Tobin's q [a] (or the q ratio, and Kaldor's v), is the ratio between a physical asset's market value and its replacement value.It was first introduced by Nicholas Kaldor in 1966 in his paper: Marginal Productivity and the Macro-Economic Theories of Distribution: Comment on Samuelson and Modigliani.
Now multiply that number (of runs) by .8, or whatever percentage of average the replacement level is designated to be; the result is the number of runs you could expect a "replacement player" to put up with that number of outs. Simply subtract the replacement's runs created from the player's actual runs created, and the result is VORP.
The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
Therefore, a 1.0 WAR value for a player signifies a contribution of roughly 10 more runs than a replacement-level player, over a specified period of time. A replacement-level player is defined by FanGraphs as contributing 17.5 runs fewer than a player of league-average performance, over 600 plate appearances. [4]
In statistics, imputation is the process of replacing missing data with substituted values. When substituting for a data point, it is known as "unit imputation"; when substituting for a component of a data point, it is known as "item imputation".
Stata (/ ˈ s t eɪ t ə /, [2] STAY-ta, alternatively / ˈ s t æ t ə /, occasionally stylized as STATA [3] [4]) is a general-purpose statistical software package developed by StataCorp for data manipulation, visualization, statistics, and automated reporting.
The "chart" actually consists of a pair of charts: one, the individuals chart, displays the individual measured values; the other, the moving range chart, displays the difference from one point to the next.
Schematic of Jackknife Resampling. In statistics, the jackknife (jackknife cross-validation) is a cross-validation technique and, therefore, a form of resampling.It is especially useful for bias and variance estimation.