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DIRECT: The mathematical notion that two variables change in the same direction, that is, an increase in X goes with an increase in Y, or a decrease in X goes with a decrease in Y. The alternative to a direct relation is an inverse relation, in which an increase in one variable goes with a decrease in the other. Direct relations are graphically illustrated by positively-sloped curves, a common example being the supply curve.
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RISK The quantitative probability of different future outcomes occurring. The assignment of probabilities can be subjective (based on a "feeling") or objective (based on historical data). Risk is related to the concept of uncertainty, which is simply not knowing what the future holds. People have three alternative preferences when confronting risk -- risk aversion, risk neutrality, and risk loving. Risk aversion is key to the provision of insurance.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"I not only use all the brains that I have, but all that I can borrow. " -- Woodrow Wilson, 28th US president
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LS
Least Squares
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