The data scientist’s goal is to simultaneously reduce bias and variance as much as possible in order to obtain as accurate model as is feasible. However, there is a tradeoff to be made when selecting ...

Financial word of the day: Heteroscedasticity describes a situation where risk (variance) changes with the level of a variable. In financial models, this means volatility is not constant. Most pricing ...

System-wide measurements of gene expression by DNA microarray and, more recently, RNA-sequencing strategies have become de facto tools of modern biology and have led to deep understanding of ...

The Annals of Applied Statistics, Vol. 11, No. 4 (December 2017), pp. 2027-2051 (25 pages) Linear mixed models (LMMs) are among the most commonly used tools for genetic association studies. However, ...

Cost and schedule variance data are part of earned value analysis, which is a tool that small and large businesses use as an early-warning system to identify and manage problems in ongoing projects.