Identify the components of the statistical model (as

Step 1 of 3

The Statistical Model: Assuming that a single more than one random variable is associated with another or more variables. Let Y be the observations set and P be the possible distributions for Y. A distinct P element produces the observed data.

The statistical model comprises:

i) Finding desired random variables that include observable random variables.

ii) The joint or a family of possible joint distribution specifications for observable random variables.

iii) Finding the parameters of distributions considered to be observable hypothetically and unknown.

iv) Joint distribution specifications of the unknown parameters.

Also, when the unknown parameters are represented by , the joint distribution of observable random variables indexed by  is the conditional distribution for the observed random variables given .