Analytics - Chp 2: Simple Models

Card Set Information

Author:
athorne
ID:
233529
Filename:
Analytics - Chp 2: Simple Models
Updated:
2013-09-08 22:12:42
Tags:
psychology statistics 400a
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Description:
Simple Models: Definitions of ERROR and Parameter Estimates
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  1. Median
    • the middle in an batch of data that has been ordered smallest to largest
    • does not change because of extreme observations
  2. Mean
    • the arithmetic average
    • best estimate of b0 for a sum of squares
    • subject to change when there are extreme observations
  3. b0
    • estimate of β0 based on the data at hand
    • equivalent to Ý

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