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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
Data theory is anxious with how observations are transformed into data which can be analyzed. Data are thus viewed as the theory laden in the sense that the observations can be giv
Multimodal distribution is the probability distribution or frequency distribution with number of modes. Multimodality is frequently taken as an indication which the observed di
Time series : The values of a variable recorded, generally at a regular interval, over the long period of time. The observed movement and fluctuations of several such series are
The scatter plots of SRES1, RESI1 versus totexp demonstrates that there is non-linear relationship that exists as most of the points are below and above zero. The scatter plots sho
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
5. Packages from a machine a normally distributed with a mean 200g and its standard deviation 2grams. Find the probability that a package from the machine weighs a) Less than
A procedure whereby the collection of multiple sample units are combined in their entirety or in part, to form the new sample. One or more succeeding measurements are taken on the
An approach to investigations designed to recognize a particular medical condition in the large population, usually by means of a blood test, which might result in the considerable
Attack rate : This term frequently used for the incidence of the disease or condition in the particular group, or during a limited interval of time, or under the special circumstan
Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p
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