quasi-likelihood function

a formula used to obtain estimates for count or binary data that show more dispersion than the statistical model can handle. An advantage of quasi-likelihood models is that they permit an increased flexibility in the data types and research situations to which they may be applied. A limitation is that the function does not derive from a known population distribution.

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Psychology term of the day

January 11th 2025

test marketing

research undertaken to assess consumer reactions to new or altered products. Companies often try to carry out this research discreetly so that competitors are unaware of any potential changes. On the basis of the results, products may be introduced into the general market, introduced after changes, or withdrawn.