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Probability distribution : For the discrete random variable, a mathematical formula which provides the probability of each value of variable. See, for instance, binomial distributi
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
Surveys which use lists related with the vital statistics to sample individuals for the further information. For instance, the 1988 National Mortality Follow back Survey sampled de
The graphic representation of the alternatives in a decision making problem which summarizes all the possibilities foreseen by the decision maker. For instance, suppose we are give
This is extension of the EM algorithm which typically converges more slowly than EM in terms of the iterations but can be much faster in the whole computer time. The general idea o
Ignorability : The missing data mechanism is said to be ignorable for likelihood inference if (1) the joint likelihood for the responses of the interest and missing data indicators
We are installing a router for our network. We believe that the time between the arrival of packets will be exponentially distributed with parameter R = 2 packets/second, and th
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
The distribution over distributions in the sense that each draw from the process is itself the distribution. The name Dirichlet process or procedure is due to the fact that the ?ni
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
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