Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today.
In the mathematical field of numerical analysis, interpolation is a type of estimation, a method of constructing (finding) new data points based on the range of a discrete set of known data points.
Geostatistics is a branch of statistics focusing on spatial or spatiotemporal datasets. Developed originally to predict probability distributions of ore grades for mining operations, it is currently applied in diverse disciplines including petroleum geology, hydrogeology, hydrology, meteorology, oceanography, geochemistry, geometallurgy, geography, forestry, environmental control, landscape ecology, soil science, and agriculture. Geostatistics is applied in varied branches of geography, particularly those involving the spread of diseases (epidemiology), the practice of commerce and military planning (logistics), and the development of efficient spatial networks. Geostatistical algorithms are incorporated in many places, including geographic information systems (GIS).
In mathematics, a time series is a series of data points indexed in time order. Most commonly, a time series is a sequence taken at successive equally spaced points in time. Thus it is a sequence of discrete-time data. Examples of time series are heights of ocean tides, counts of sunspots, and the daily closing value of the Dow Jones Industrial Average.
In statistics, originally in geostatistics, kriging or Kriging, also known as Gaussian process regression, is a method of interpolation based on Gaussian process governed by prior covariances. Under suitable assumptions of the prior, kriging gives the best linear unbiased prediction (BLUP) at unsampled locations. Interpolating methods based on other criteria such as smoothness may not yield the BLUP. The method is widely used in the domain of spatial analysis and computer experiments. The technique is also known as Wiener–Kolmogorov prediction, after Norbert Wiener and Andrey Kolmogorov.
In mathematics, extrapolation is a type of estimation, beyond the original observation range, of the value of a variable on the basis of its relationship with another variable. It is similar to interpolation, which produces estimates between known observations, but extrapolation is subject to greater uncertainty and a higher risk of producing meaningless results. Extrapolation may also mean extension of a method, assuming similar methods will be applicable. Extrapolation may also apply to human experience to project, extend, or expand known experience into an area not known or previously experienced so as to arrive at a knowledge of the unknown. The extrapolation method can be applied in the interior reconstruction problem.
In spatial statistics the theoretical variogram is a function describing the degree of spatial dependence of a spatial random field or stochastic process . The semivariogram is half the variogram.
Spatial ecology studies the ultimate distributional or spatial unit occupied by a species. In a particular habitat shared by several species, each of the species is usually confined to its own microhabitat or spatial niche because two species in the same general territory cannot usually occupy the same ecological niche for any significant length of time.
Spatial analysis or spatial statistics includes any of the formal techniques which studies entities using their topological, geometric, or geographic properties. Spatial analysis includes a variety of techniques, many still in their early development, using different analytic approaches and applied in fields as diverse as astronomy, with its studies of the placement of galaxies in the cosmos, to chip fabrication engineering, with its use of "place and route" algorithms to build complex wiring structures. In a more restricted sense, spatial analysis is the technique applied to structures at the human scale, most notably in the analysis of geographic data or transcriptomics data.
Georges François Paul Marie Matheron was a French mathematician and civil engineer of mines, known as the founder of geostatistics and a co-founder of mathematical morphology. In 1968, he created the Centre de Géostatistique et de Morphologie Mathématique at the Paris School of Mines in Fontainebleau. He is known for his contributions on Kriging and mathematical morphology. His seminal work is posted for study and review to the Online Library of the Centre de Géostatistique, Fontainebleau, France.
Structural estimation is a technique for estimating deep "structural" parameters of theoretical economic models. The term is inherited from the simultaneous equations model. In this sense "structural estimation" is contrasted with "reduced-form estimation", which is the statistical relationship between observed variables.
Geometallurgy relates to the practice of combining geology or geostatistics with metallurgy, or, more specifically, extractive metallurgy, to create a spatially or geologically based predictive model for mineral processing plants. It is used in the hard rock mining industry for risk management and mitigation during mineral processing plant design. It is also used, to a lesser extent, for production planning in more variable ore deposits.
Geomathematics is the application of mathematical methods to solve problems in geosciences, including geology and geophysics, and particularly geodynamics and seismology.
In statistics, signal processing, and econometrics, an unevenlyspaced time series is a sequence of observation time and value pairs in which the spacing of observation times is not constant.
Pedometric mapping, or statistical soil mapping, is data-driven generation of soil property and class maps that is based on use of statistical methods. Its main objectives are to predict values of some soil variable at unobserved locations, and to access the uncertainty of that estimate using statistical inference i.e. statistically optimal approaches. From the application point of view, its main objective is to accurately predict response of a soil-plant ecosystem to various soil management strategies—that is, to generate maps of soil properties and soil classes that can be used for other environmental models and decision-making. It is largely based on applying geostatistics in soil science, and other statistical methods used in pedometrics.
In applied statistics and geostatistics, regression-kriging (RK) is a spatial prediction technique that combines a regression of the dependent variable on auxiliary variables with interpolation (kriging) of the regression residuals. It is mathematically equivalent to the interpolation method variously called universal kriging and kriging with external drift, where auxiliary predictors are used directly to solve the kriging weights.
André Georges Journel is a French American engineer who excelled in formulating and promoting geostatistics in the earth sciences and engineering, first from the Centre of Mathematical Morphology in Fontainebleau, France and later from Stanford University.
In statistics, linear regression is a linear approach for modelling the relationship between a scalar response and one or more explanatory variables. The case of one explanatory variable is called simple linear regression; for more than one, the process is called multiple linear regression. This term is distinct from multivariate linear regression, where multiple correlated dependent variables are predicted, rather than a single scalar variable.
Mineral resource estimation is used to determine and define the ore tonnage and grade of a geological deposit, from the developed block model. There are different estimation methods used for different scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the amount of time and money available. A typical resource estimation involves the construction of a geological and resource model with data from various sources. Depending on the nature of the information and whether the data is hard copy or computerized, the principal steps of computer resource estimation are:
- Creation, standardization and validation of the database.
- Section plotting and interactive geological modeling.
- Geostatistical analysis.
- Block modeling and block estimation.
