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Is there a statistical test to assess the difference between two ratios. I have numbers which are ratios and want to test whether there is a statistical difference between them?
You can use the z test for two proportions. The link below will do this test for you.
What are the uses of probability ratio?
With probability ratios the value you get to describe the strength of the relationship when you compare (A given B) to (A given not B) is not the same as what you get when you compare (not A given B) to (not A given not B). This is, IMHO, a big problem. There is no such problem with odds ratios.
How is a weighted loss ratio calculated?
you add your weighted premiums and divide by your weighted claims. (you do not weight the loss ratios )
Compare and contrast ratios and rates?
Ratios and rates are mathematical derivations. A ratio is an index comparing fractionally indexing multiple quantities vis-Ã -vis one other. A 1 to 1 (1:1) ration of milk to water would mean equal quantities of each. A rate is a measure of quantity over time. Rates can include speed and the volume of fluid movement.
When do you compare using ratios percents and rates and when do you compare using differences?
when you are specifically comparing 2 sets of data (2 #'s, 2 percents, 2 rates ect.)
