facility noun (PLACE). âº [C] something such as a âplace, âbuilding, or âequipment used for a âparticular âpurpose or âactivity: The new âsports facility has a âswimming âpool. (Definition of facility from the Cambridge Academic Content Dictionary Â© Cambridge University Press).acility noun (PLACE). âº [C] something such as a âplace, âbuilding, or âequipment used for a âparticular âpurpose or âactivity: The new âsports facility has a âswimming âpool. (Definition of facility from the Cambridge Academic Content Dictionary Â© Cambridge University Press).
While economists cloak their views in the aura of science, what they actually do is make assumptions about the world, use those assumptions to build imaginary economies (known as models), and from those models generate conclusions.
In the design-based approach, the model is taken to be known, and one of the goals is to ensure that the sample data are selected randomly enough for inference. Statistical assumptions can be put into two classes, depending upon which approach to inference is used.1  Model-based assumptions. 2  Distributional assumptions. 3  Structural assumptions. 4  Cross-variation assumptions. 5  Design-based assumptions.tatistical assumptions can be put into two classes, depending upon which approach to inference is used. 1  Model-based assumptions. 2  These include the following three types: 3  Distributional assumptions.