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This Concept Map, created with IHMC CmapTools, has information related to: MThompson 3, How do Businesses use Statistics? within Economics, series is given by y(t)=the summation of 1 to t N(j)=A+y(t)-1+e(t), 2 equations for contractions, binary classification relates to the Business Cycle, characteristics of cycles (Neftci) uses parameters, Statistics includes the use of Bayes theorem, contractions can be defined as "any time period in which the current level of real GDP is below its historical maximum." (Hess 433), expansions can be defined as "any time period not belonging to the contractions." (Hess 433), cumulative distribution function for example Lc is greater or equal to 1, conditional asymmetry variance relates to economic activity, characteristics of cycles (Neftci) uses eight phases, Statistics includes the use of conditional asymmetry mean, "any time period in which the current level of real GDP is below its historical maximum." (Hess 433) is shown as Lc is greater or equal to 1, characteristics of cycles (Neftci) uses piecewise linear functions, Goodness of the Fit gives a statistical measure of how the shape function fits the observed data at each time implied., logarithms relates to Real Gross Domestic Product, vectors relates to the Business Cycle, algorithms relates to the Business Cycle, Statistics includes the use of cumulative distribution function, contractions is shown by this equation