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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
Indirect least squares: An estimation technique used in the fitting of structural equation models. Commonly least squares are first used to estimate reduced form parameters. Usi
The distribution free or technique which is the analogue of the analysis of variance for the design with two factors. It can be applied to data sets which do not meet the assumptio
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
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
Mean-range plot is the graphical tool or device useful in selecting a transformation in the time series analysis. The range is plotted against the mean for each of the seasona
Continuous variable : The measurement which is not restricted to the particular values except in so far as this is constrained by the accuracy of measuring instrument. General exam
I have a problem I am trying to solve. An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is
(a) A plane timetable states that a particular plane is due at 2pm but the actual arrival time isuniformly distributed between 1pm and 3pm. (i) Calculate the probability that th
Wilcoxon's ranksum test is the distribution free method or technique used as an alternative to the Student's t-test for assessing whether two populations have the same location. G
Glejser test is the test for the heteroscedasticity in the error terms of the regression analysis which involves regressing the absolute values of the regression residuals for the
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