1.
Social science
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Social science is a major category of academic disciplines, concerned with society and the relationships among individuals within a society. It in turn has many branches, each of which is considered a social science, the social sciences include economics, political science, human geography, demography, psychology, sociology, anthropology, archaeology, jurisprudence, history, and linguistics. The term is sometimes used to refer specifically to the field of sociology. A more detailed list of sub-disciplines within the sciences can be found at Outline of social science. Positivist social scientists use methods resembling those of the sciences as tools for understanding society. In modern academic practice, researchers are often eclectic, using multiple methodologies, the term social research has also acquired a degree of autonomy as practitioners from various disciplines share in its aims and methods. Social sciences came forth from the philosophy of the time and were influenced by the Age of Revolutions, such as the Industrial Revolution. The social sciences developed from the sciences, or the systematic knowledge-bases or prescriptive practices, the beginnings of the social sciences in the 18th century are reflected in the grand encyclopedia of Diderot, with articles from Jean-Jacques Rousseau and other pioneers. The growth of the sciences is also reflected in other specialized encyclopedias. The modern period saw social science first used as a distinct conceptual field, Social science was influenced by positivism, focusing on knowledge based on actual positive sense experience and avoiding the negative, metaphysical speculation was avoided. Auguste Comte used the term science sociale to describe the field, taken from the ideas of Charles Fourier, following this period, there were five paths of development that sprang forth in the social sciences, influenced by Comte on other fields. One route that was taken was the rise of social research, large statistical surveys were undertaken in various parts of the United States and Europe. Another route undertaken was initiated by Émile Durkheim, studying social facts, a third means developed, arising from the methodological dichotomy present, in which social phenomena were identified with and understood, this was championed by figures such as Max Weber. The fourth route taken, based in economics, was developed and furthered economic knowledge as a hard science, the last path was the correlation of knowledge and social values, the antipositivism and verstehen sociology of Max Weber firmly demanded this distinction. In this route, theory and prescription were non-overlapping formal discussions of a subject, around the start of the 20th century, Enlightenment philosophy was challenged in various quarters. The development of social science subfields became very quantitative in methodology, examples of boundary blurring include emerging disciplines like social research of medicine, sociobiology, neuropsychology, bioeconomics and the history and sociology of science. Increasingly, quantitative research and qualitative methods are being integrated in the study of action and its implications. In the first half of the 20th century, statistics became a discipline of applied mathematics
2.
Economic indicator
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An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of performance and predictions of future performance. One application of economic indicators is the study of business cycles, Economic indicators include various indices, earnings reports, and economic summaries. The leading business cycle dating committee in the United States of America is the National Bureau of Economic Research, the Bureau of Labor Statistics is the principal fact-finding agency for the U. S. government in the field of labor economics and statistics. Other producers of economic indicators includes the United States Census Bureau, Economic indicators can be classified into three categories according to their usual timing in relation to the business cycle, leading indicators, lagging indicators, and coincident indicators. Leading indicators are indicators that usually, but not always, change before the economy as a whole changes and they are therefore useful as short-term predictors of the economy. Other leading indicators include the index of consumer expectations, building permits, the Conference Board publishes a composite Leading Economic Index consisting of ten indicators designed to predict activity in the U. S. economy six to nine months in future. Average weekly jobless claims for unemployment insurance — The CB reverses the value of this component from positive to negative because a positive reading indicates a loss in jobs. The initial jobless-claims data is sensitive to business conditions than other measures of unemployment. The new orders decrease inventory and contribute to unfilled orders, a precursor to future revenue, vendor performance — This component measures the time it takes to deliver orders to industrial companies. Vendor performance leads the business cycle because an increase in time can indicate rising demand for manufacturing supplies. Vendor performance is measured by a survey from the National Association of Purchasing Managers. This diffusion index measures one-half of the respondents reporting no change and this measure is the producers counterpart of new orders for consumer goods/materials component. Building permits for new housing units. The Standard & Poors 500 stock index — The S&P500 is considered a leading indicator because changes in stock prices reflect investors expectations for the future of the economy and interest rates. Money Supply — The money supply measures demand deposits, travelers checks, savings deposits, currency, money market accounts, here, M2 is adjusted for inflation by means of the deflator published by the federal government in the GDP report. Bank lending, a factor contributing to account deposits, usually declines when inflation increases faster than the money supply, thus, an increase in demand deposits will indicate expectations that inflation will rise, resulting in a decrease in bank lending and an increase in savings. Interest rate spread — The interest rate spread is often referred to as the curve and implies the expected direction of short-, medium-
3.
Statistics
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Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, e. g. a scientific, industrial, or social problem, populations can be diverse topics such as all people living in a country or every atom composing a crystal. Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys, statistician Sir Arthur Lyon Bowley defines statistics as Numerical statements of facts in any department of inquiry placed in relation to each other. When census data cannot be collected, statisticians collect data by developing specific experiment designs, representative sampling assures that inferences and conclusions can safely extend from the sample to the population as a whole. In contrast, an observational study does not involve experimental manipulation, inferences on mathematical statistics are made under the framework of probability theory, which deals with the analysis of random phenomena. A standard statistical procedure involves the test of the relationship between two data sets, or a data set and a synthetic data drawn from idealized model. A hypothesis is proposed for the relationship between the two data sets, and this is compared as an alternative to an idealized null hypothesis of no relationship between two data sets. Rejecting or disproving the hypothesis is done using statistical tests that quantify the sense in which the null can be proven false. Working from a hypothesis, two basic forms of error are recognized, Type I errors and Type II errors. Multiple problems have come to be associated with this framework, ranging from obtaining a sufficient sample size to specifying an adequate null hypothesis, measurement processes that generate statistical data are also subject to error. Many of these errors are classified as random or systematic, the presence of missing data or censoring may result in biased estimates and specific techniques have been developed to address these problems. Statistics continues to be an area of research, for example on the problem of how to analyze Big data. Statistics is a body of science that pertains to the collection, analysis, interpretation or explanation. Some consider statistics to be a mathematical science rather than a branch of mathematics. While many scientific investigations make use of data, statistics is concerned with the use of data in the context of uncertainty, mathematical techniques used for this include mathematical analysis, linear algebra, stochastic analysis, differential equations, and measure-theoretic probability theory. In applying statistics to a problem, it is practice to start with a population or process to be studied. Populations can be diverse topics such as all living in a country or every atom composing a crystal. Ideally, statisticians compile data about the entire population and this may be organized by governmental statistical institutes
4.
Will and testament
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For the devolution of property not disposed of by will, see inheritance and intestacy. Thus, the word will validly applies to personal and real property. A will may also create a testamentary trust that is only after the death of the testator. Throughout most of the world, disposal of an estate has been a matter of social custom, according to Plutarch, the written will was invented by Solon. Originally it was a device intended solely for men who died without an heir, the English phrase will and testament is derived from a period in English law when Old English and Law French were used side by side for maximum clarity. Other such legal doublets include breaking and entering and peace and quiet, the conception of the freedom of disposition by will, familiar as it is in modern England and the United States, both generally considered common law systems, is by no means universal. In fact, complete freedom is the rather than the rule. Civil law systems often put some restrictions on the possibilities of disposal, advocates for gays and lesbians have pointed to the inheritance rights of spouses as desirable for same-sex couples as well, through same-sex marriage or civil unions. Opponents of such advocacy rebut this claim by pointing to the ability of same-sex couples to disperse their assets by will, types of wills generally include, nuncupative - oral or dictated, often limited to sailors or military personnel. Holographic will - written in the hand of the testator, in many jurisdictions, the signature, self-proved - in solemn form with affidavits of subscribing witnesses to avoid probate. Notarial - will in public form and prepared by a civil-law notary, servicemans will - will of person in active-duty military service and usually lacking certain formalities, particularly under English law. Reciprocal/mirror/mutual/husband and wife wills - wills made by two or more parties that make similar or identical provisions in favor of each other, unsolemn will - will in which the executor is unnamed. Will in solemn form - signed by testator and witnesses, some jurisdictions recognize a holographic will, made out entirely in the testators own hand, or in some modern formulations, with material provisions in the testators hand. The distinctive feature of a holographic will is less that it is handwritten by the testator, in Louisiana this type of testament is called an Olographic or Mystic will. It must be written, dated, and signed in the handwriting of the testator. Although the date may appear anywhere in the testament, the testator must sign the testament at the end of the testament, any additions or corrections must also be entirely hand written to have effect. In England, the formalities of wills are relaxed for soldiers who express their wishes on active service, a minority of jurisdictions even recognize the validity of nuncupative wills, particularly for military personnel or merchant sailors. However, there are constraints on the disposition of property if such an oral will is used
5.
Per stirpes
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Per stirpes is a legal term in Latin. An estate of a decedent is distributed per stirpes if each branch of the family is to receive a share of an estate. When the heir in the first generation of a branch predeceased the decedent and it may also be known as right of representation distribution, and differs from distribution per capita, as members of the same generation may inherit different amounts. Example 1A, The testator A, specifies in his will that his estate is to be divided among his descendants in equal shares per stirpes, a has three children, B, C, and D. B is already dead, but has two children, B1 and B2. When As will is executed, under a distribution per stirpes, C and D each receive one-third of the estate, B1 and B2 constitute one branch of the family, and collectively receive a share equal to the shares received by C and D as branches. Per capita at each generation is a way of distribution. The estate is divided into shares at the generation closest to the deceased with surviving heirs. The number of shares is equal to the number of original members either surviving or with surviving descendants, each surviving heir of that generation gets a share. The remainder is then divided among the next-generation descendants of the deceased descendants in the same manner. Example 2A, In the first example, children C and D survive, there were three children, so each surviving child receives one-third. The remainder - Bs share - is then divided in the same manner among Bs surviving descendants, the result is the same as under per stirpes because Bs one-third is distributed to B1 and B2. Example 2B, The per capita and per stirpes results would differ if D also pre-deceased with one child, under per stirpes, B1 and B2 would each receive one-sixth, and D1 would receive one-third. Under per capita, the two-thirds remaining after C s one-third share was taken would be divided equally among all three children of B and D, each would receive two-ninths, B1, B2, and D1 would all receive two-ninths. The spouses of the children are not considered, spouses are not a part of the branch. Therefore, even if B, C, or D died leaving a spouse as well as children, all of the pass to the children and nothing passes to the spouses of As children B, C. From the example above, if As child B died before As death, As grandchildren B1, even if B had a living spouse at the time of As death, that person would receive nothing from As estate. In many states of the United States, such as New York, under the Modern Per Stirpes approach, the number of branches is determined by reference to the generation nearest the testator which has a surviving descendant
