A note on computing the standard errors of estimate of composite index
Abstract. This short note proposes working out of the standard errors of estimate of composite indices when they are constructed by using intrinsically derived weights. It illustrates the proposed method, using the jackknife re-sampling technique, by an example that relates to crime of different types in Uttar Pradesh (India). Improvements are suggested through bootstrapping.
Keywords. Composite index, Standard error of estimate, Jackknife resampling, Crime data, Uttar Pradesh, India.JEL. C43, C61, C71.
Efron, B. (1979). Bootstrap methods: Another look at the jackknife. The Annals of Statistics, 7(1), 1-26.
Efron, B. (1981). Nonparametric estimates of standard error: The Jackknife, the bootstrap and other methods. Biometrika, 68(3), 589-599. doi. 10.1093/biomet/68.3.589
Efron, B., & Tibshirani, R.J. (1993). An Introduction to the Bootstrap, Chapman & Hall, New York.
Mishra, S.K. (2011). A comparative study of various inclusive indices and the index constructed by the principal component analysis. IUP Journal of Computational Mathematics, 4(2), 7-26.
Mishra, S.K. (2016). A note on construction of a composite index by optimization of Shapley value shares of the constituent variables. Turkish Econ. Review, 3(3), 466-472.
Mishra, S.K. (2017). Almost equi-marginal principle based composite index of globalization: China, India and Pakistan. Journal of Economic and Social Thought, 4(3), 335-351.
Shao, J., & Tu, D. (1995). The Jackknife and Bootstrap, Springer Verlag, New York.
Wolter, K.M. (1985). Introduction to Variance Estimation, Springer Verlag, New York.
- There are currently no refbacks.
Journal of Economic and Social Thought - J. Econ. Soc. Thoug. - JEST - www.kspjournals.org
Copyright © KSP Library