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Clinical vs. statistical significance: The distinction among results in terms of their possible clinical importance rather than simply in terms of their statistical importance. With large samples, for instance, very small differences which have little or no clinical importance may turn out to be the statistically signi?cant products. The practical implications of any ?nding in the medical investigation should be judged on the clinical as well as the statistical grounds.
It is the art of attempting to exchange something quite small and certain, for something which are large and uncertain. Gambling is big business; in the US, for instance, it is at
The process of providing the numerical value for the population parameter on the basis of information gathered from a sample. If a single ?gure is computed for the unknown paramete
Intervention analysis in time series : The extension of the autoregressive integrated moving average models applied to time series permitting for the study of the magnitude and str
1.Sam Lucarelli, owner of Lucarelli Products, is evaluating whether to produce a new product line. After thinking through the production process and the costs of raw materials and
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
The problem that the studies are not uniformly probable to be published in the scientific journals. There is evidence that the statistical significance is a main determining factor
Buffon's needle problem : A problem proposed and solved by the scientist Comte de Buffon in 1777 which includes determining the probability, p, which a needle of length l will inte
How to estimate MLE for statistical anslysis using Markov Model?
This process of estimating from a data set those values lying beyond range of the data. In the regression analysis, for instance, a value of the response variable might be estimate
Hi , Im currently taking the course Financial Econometrics of Master of Finance at RMIT. I find it really difficult to understand the course''s material and now im having the majo
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