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An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is oil in the ground, the soil test comes
A term usually used for unobserved individual heterogeneity. Such variation is of main concern in the medical statistics particularly in the analysis of the survival times where ha
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
In an experiment, power is a function of 1. The number of variables being measured and the beta level 2. The effect size, internal validity and the beta level 3. The number of part
Captures recapture sampling : Another approach to a census for estimating the size of population, which operates by sampling the population number of times, identifying the individ
Cohort study : An investigation in which the group of individuals (or the cohort) is identi?ed and followed prospectively, possibly for many years, and their subsequent medical his
Kurtosis: The extent to which the peak of the unimodal probability distribution or the frequency distribution departs from its shape of the normal distribution, by either being mo
In the time series plot and scatter graphs there were many outliers that were clearly visible. These have been removed to identify if they were influential or had high leverage and
What is the EM?
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
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