1986 | OriginalPaper | Chapter
Simultaneous Equations
Author : Prof. Clifford Hildreth
Published in: The Cowles Commission in Chicago, 1939–1955
Publisher: Springer Berlin Heidelberg
Included in: Professional Book Archive
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To draw statistical inferences from an observation y a researcher assumes that y is a realization (or drawing of a passible value) of a random object, say Y, governed by a probability measure PY. PY is unknown but assumed to belong to a collection ρ of probability measures. ρ is called the statistical model or specification. Typically y is a vector or matrix of numerical observations and Y is a corresponding array of random variables.