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Admissibility
A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and only if there does not exist within that particular class of the procedures another one which performs uniformly at least as well as the procedure in question and performs much better than it in at least one case. Here 'uniformly' means for all values of the parameters which decide the probability distribution of the random variables under the investigation.
To determine the proportion of people in your town who are smokers, it has been decided to poll people at one of the following local spots: (a) the pool hall; (b) the bowling alley
Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi
Motion Picture Industry (95 Points) The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and t
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
A researcher computed the F ratio for a four-group experiment. The computed F is 4.86. The degrees of freedom are 3 for the numerator and 16 for the denominator. 1. Is the computed
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
Simple Linear Regression One calculate of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over
Discriminant analysis (DA) helps to determine which variables discriminate between two or more naturally occurring groups. Mathematically equivalent to MANOVA, it ' is extensively
Examine properties of good average with reference to AM, GM, HM, MEAN MEDIAN MODE
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