| random variable |
An economic or statistical variable that takes on multiple (or a continuum of) values, each with some probability that is specified by a probability distribution (or probability density function).
Ãâó: www-personal.umich.edu/~alandear/glossary/r.html
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| random |
Lack of predictability, without any systematic pattern.
Ãâó: www.st.com/stonline/press/news/glossary/r.htm
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| random |
Having no predictable pattern. For example, demand data may vary randomly about some forecasted value with no specific pattern and no attendant ability to obtain a more accurate demand estimate than the forecast value.
Ãâó: www.indiainfoline.com/bisc/matr.html
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| random error |
means the deviation of a random variable from its expected value.
Ãâó: www.nrc.gov/reading-rm/doc-collections/cfr/part074...
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| randomization |
A process that reduces the likelihood of bias by assigning people to treatment groups by chance alone (randomly). When groups are created by random assignment, individual characteristics are less likely to make the results inaccurate.
Ãâó: www.mayoclinic.com/invoke.cfm
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