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This is the branch of mathematics which deals with the theory of contests between two or more players under the specified sets of rules. The subject supposes a statistical aspect w
Confidence profile method : A Bayesian approach to meta-analysis in which the information in each piece of the evidence is captured in the likelihood function which is then used al
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes. S
Likelihood is the probability of a set of observations provided the value of some parameter or the set of parameters. For instance, the likelihood of the random sample of n observ
Paul Jordan has just been hired as a management analyst at Digital Cell Phone Inc. Digital Cell manufactures a broad line of phones for the consumer market. Paul's boss, John Smith
Kalman filter : A recursive procedure which gives an estimate of the signal when only the 'noisy signal' can be observed. The estimate is efficiently constructed by putting the exp
Multiple comparison tests : Procedures for detailed examination of the differences between a set of means, generally after a general hypothesis that they are all equal has been rej
Chance events : According to the Cicero these are events which occurred or will occur in ways which are the uncertain-events which may happen, may not happen, or may happen in some
Chernoff's faces : A method or technique for representing the multivariate data graphically. Each observation is represented by the computer-created face, the features of which are
You may have the opportunity to buy some electronic components. These components may be reliable (1) or unreliable (2). The potential pro?ts are £10,000 if the components are rel
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