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The term "knee" as applied to curves dates at least to the 1910s, [1] and is found more commonly by the 1940s, [2] being common enough to draw criticism. [3] [4] The unabridged Webster's Dictionary (1971 edition) gives definition 3h of knee as: [5] an abrupt change in direction in a curve (as on a graph); esp one approaching a right angle in shape.
Considerations of the shape of a distribution arise in statistical data analysis, where simple quantitative descriptive statistics and plotting techniques such as histograms can lead on to the selection of a particular family of distributions for modelling purposes. The normal distribution, often called the "bell curve" Exponential distribution
This is important, as it makes an enormous difference to the ease with which the statistics can be analyzed so as to extract maximum information from the data series. If there are other non-linear effects that have a correlation to the independent variable (such as cyclic influences), the use of least-squares estimation of the trend is not valid.
In statistics, probability theory, and information theory, a statistical distance quantifies the distance between two statistical objects, which can be two random variables, or two probability distributions or samples, or the distance can be between an individual sample point and a population or a wider sample of points.
Along the horizontal axis, the limits of the class intervals for an ogive are marked. Based on the limit values, points above each are placed with heights equal to either the absolute or relative cumulative frequency. The shape of an ogive is obtained by connecting each of the points to its neighbours with line segments.
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The value of the inverse demand function is the highest price that could be charged and still generate the quantity demanded. [3] This is useful because economists typically place price (P) on the vertical axis and quantity (demand, Q) on the horizontal axis in supply-and-demand diagrams, so it is the inverse demand function that depicts the ...
A nomogram for a three-variable equation typically has three scales, although there exist nomograms in which two or even all three scales are common. Here two scales represent known values and the third is the scale where the result is read off. The simplest such equation is u 1 + u 2 + u 3 = 0 for the three variables u 1, u 2 and u 3. An ...