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Regression analysis is based on the assumption that the dependent variable is distributed according some function of the independent variables together with independent identically distributed random errors. If the error terms were not stochastic then some of the properties of the regression analysis are not valid.

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Q: What is the role of the stochastic error term in regression analysis?

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Statistics If Data Science is like a language, statistics is the grammar. In a nutshell, data science is statistics. Statistics is the process of studying and interpreting huge data sets. Statistics are as important and worthwhile to us as air whenever it comes to data processing and so also gathering insights. You're an analyst, not a data scientist, if you're implementing an ML model or regression, or creating trials. We can use statistics to decipher the hidden details in massive datasets. Everything is based on statistics, so let's look at how to better comprehend statistics in data science. Learn more about Statistics and its role in data science at Learnbay.co institute.

I believe it plays the role of the hero

Statistics in clinical research is collecting and organizing numerical and clinical data obtained from the study sites and analyzing and interpreting it to verify the results of the trials and decide if it is was a success and if the drug is fit for human consumption. Using statistics helps in reasonable prediction of the effects of the drug on humans, even though the individual responses to the drug vary from person to person. Statistics plays a central role in the entire process of clinical trial from planning, conduct, interim analysis, final analysis and reporting.

statistics had a great role in the business and commerce field . it also had agreat role in the field of research.

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Your role under Worksite Analysis with regards to conducting a Hazard Analysis is to identify hazards of the job and document those hazards.

what are the role of financial statement analysis in making investment decicions?

The analysis technique is usually done in conjunction with the process model. The role is to analyze a given set of data.

Solubility always has to be considered as a source of error in gravimetric analysis because what remains in solution, no matter how little, doesn't get measured (although, it can sometimes be determined indirectly). So, gravimetric results are always erroneously low due to this factor.

The composition of inks is determined.

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document hazards, and identify hazards of the job.

document hazards identify hazards of the job

Identify Hazards of Job and Document Hazards

Role analysis involves the following steps: 1. The objective of a department and functions to be identified 2. The person will be asked to state his understanding of the role 3. The other role partners to be asked to clarify the expectation from the post. 4. Then the role will be clarified to the person. The role willl be a integration of diverse viewpoints expressed by various role partners. Role analysis provides greater clarity in roles. The role incumbent knows what is supposed to do on the job, keeping the perceptions of others about his job in mind. role clarity in turn leads to improved performance in the job.

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