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A manufacturing company has two factories F 1 and F 2 producing a certain commodity that is required at three retail outlets M 1 , M 2 and M 3 . Once produced, the commodity is
Maximum likelihood estimation is an estimation procedure involving maximization of the likelihood or the log-likelihood with respect to the parameters. Such type of estimators is
Confidence interval : A range of the values, calculated from the sample observations which is believed, with the particular probability, to posses the true parameter value. A 95% c
The non-trivial extraction of implicit, earlier unknown and potentially useful information from data, specifically high-dimensional data, using pattern recognition, artificial inte
Perturbation theory : The theory useful in assessing how well a specific algorithm or the statistical model performs when the observations suffer less random changes. In very commo
Attack rate : This term frequently used for the incidence of the disease or condition in the particular group, or during a limited interval of time, or under the special circumstan
Q. A toothpaste company want to know if its new product increases the length of time in-between dentist visit to its user. The company sets a target for 180 days to determine if it
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
Interim analyses : An analysis made before the planned end of a clinical trial, typically with the aim of detecting the treatment differences at the early stage and thus preventing
difference between histogram and historigram
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