LEAST SQUARES
A statistical method used to minimize the sum of squares between the observed values and the estimated values in order to determine the regression equations. To get the "square", accord the distance between the data point and the regression line. This approach confines the distance between a function and the data points the function attempts to explain. This is frequently used in regression analysis, particularly in nonlinear regression modeling that explains a curve is fitting into a set of data.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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