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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
Buffon's needle problem : A problem proposed and solved by the scientist Comte de Buffon in 1777 which includes determining the probability, p, which a needle of length l will inte
Conjugate prior : The distribution for samples from the particular probability distribution such that the posterior distribution at each stage of the sampling is of the identical f
The graphical method for studying the behavior of the seasonal time series. In such a plot, the January values of seasonal component are graphed for the upcoming years, then the
The computer programs designed to mimic the role of the expert human consultant. This type of systems are capable to cope with the complex problems of the medical decision makin
Minimum volume ellipsoid is a term for ellipsoid of the minimum volume which covers some specified proportion of the set of multivariate data. It is commonly used to construct rob
Respondent-driven sampling (RDS ): The form of snowball sampling which starts with the recruitment of the small number of people in the target population to serve as the seeds. Aft
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 t
Behrens Fisher problem : The difficulty of testing for the equality of the means of the two normal distributions which do not have the equal variance. Various test statistics have
Dr. Stallter has been teaching basic statistics for many years. She knows that 80% of the students will complete the assigned problems. She has also determined that among those who
Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:
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