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Example of an Excel spreadsheet that uses Altman Z-score to predict the probability that a firm will go into bankruptcy within two years . The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman, who was, at the time, an Assistant Professor of Finance at New York University.
In 1968, in the first formal multiple variable analysis, Edward I. Altman applied multiple discriminant analysis within a pair-matched sample. One of the most prominent early models of bankruptcy prediction is the Altman Z-score, which is still applied today.
The Altman Z-score is a multivariate formula for a measurement of the financial health of a company and a powerful diagnostic tool that forecasts the probability of a company entering bankruptcy. Studies measuring the effectiveness of the Z-Score have shown that the model has an 80%–90% reliability.
[2] [5] [6] Examples of appropriate visualizations include the scatter plot for regression, and Gardner–Altman plots for two independent groups. [27] While historical data-group plots (bar charts, box plots, and violin plots) do not display the comparison, estimation plots add a second axis to explicitly visualize the effect size. [28]
Z-score is a type of statistical ratio. It may also refer to: Z-value, in ecology; Z-factor, in high-throughput screening; Altman Z-score, in financial analysis
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