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Mean-preserving spread. In probability and statistics, a mean-preserving spread (MPS) [1] is a change from one probability distribution A to another probability distribution B, where B is formed by spreading out one or more portions of A's probability density function or probability mass function while leaving the mean (the expected value ...
advisor. Franklin M. Fisher [1] Doctoral. students. Oliver Hart. Information at IDEAS / RePEc. Michael Rothschild (born August 2, 1942,) is an American economist. He is a professor at the University of California, Los Angeles (UCLA), and a former dean at Princeton.
In statistics, the 68–95–99.7 rule, also known as the empirical rule, and sometimes abbreviated 3sr, is a shorthand used to remember the percentage of values that lie within an interval estimate in a normal distribution: approximately 68%, 95%, and 99.7% of the values lie within one, two, and three standard deviations of the mean, respectively.
In monotone comparative statics, the single-crossing condition or single-crossing property refers to a condition where the relationship between two or more functions [note 1] is such that they will only cross once. [1] For example, a mean-preserving spread will result in an altered probability distribution whose cumulative distribution function ...
Epidemiology is the study and analysis of the distribution (who, when, and where), patterns and determinants of health and disease conditions in a defined population. It is a cornerstone of public health, and shapes policy decisions and evidence-based practice by identifying risk factors for disease and targets for preventive healthcare.
In descriptive statistics, the interquartile range (IQR) is a measure of statistical dispersion, which is the spread of the data. [1] The IQR may also be called the midspread, middle 50%, fourth spread, or H‑spread. It is defined as the difference between the 75th and 25th percentiles of the data. [2][3][4] To calculate the IQR, the data set ...
(ii) The concavity of the utility function implies that the person is risk averse: a sure amount would always be preferred over a risky bet having the same expected value; moreover, for risky bets the person would prefer a bet which is a mean-preserving contraction of an alternative bet (that is, if some of the probability mass of the first bet ...
Statistical risk is a quantification of a situation's risk using statistical methods.These methods can be used to estimate a probability distribution for the outcome of a specific variable, or at least one or more key parameters of that distribution, and from that estimated distribution a risk function can be used to obtain a single non-negative number representing a particular conception of ...