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A unified approach to all problems of prediction, estimation, and hypothesis testing. It is based on concept of the decision function, which tells the performer of experiment how to conduct the statistical aspects of an experiment and which action to take for each possible outcome. Choosing the decision function needs a loss function to be defined which assigns numerical values to making bad or good decisions. Explicitly a general loss function is denoted by L d; expressing how bad it would be to make decision d if the parameter value were. A quadratic loss function, it could be defined as and a bilinear loss function as
Briefly explain the importance of forecasting for managers?
Case-control study : The traditional case-control study is the common research design in the epidemiology where the exposures to risk factors for cases (individuals getting the dis
Asymmetric proximity matrices : Proximity matrices in which the non-diagonal elements, in the ith row and jth column and the jth row and ith column, are not essentially equal. Exam
Non parametric maximum likelihood (NPML) is a likelihood approach which does not need the specification of the full parametric family for the data. Usually, the non parametric max
Odds ratio is the ratio of the odds for the binary variable in two groups of the subjects, such as, males and females. If the two possible states of variable are labeled as 'succe
This is an attempt to measure the suffering caused by the illness which takes into the account both the years of the potential life lost due to the premature mortality as well as t
Lorenz curve : Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically in
Concordant mutations test : A statistical test used in the cancer studies to determine whether or not a diagnosed second primary tumour is biologically independent of the original
Treatment allocation ratio is the ratio of the number of subjects allocated to the two treatments in a clinical trial. The equal allocation is most usual in practice, but it might
Jelinski Moranda model is t he model of software reliability which supposes that failures occur according to the Poisson process with a rate decreasing as more faults are diagnos
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