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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
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
Bimodal distribution : The probability distribution, or we can simply say the frequency distribution, with two modes. Figure 15 shows the example of each of them
A term commonly encountered in the analysis of the contingency tables. Such type of frequencies are the estimates of the values to be expected under hypothesis of interest. In a tw
Battery reduction : A common term for reducing the number of variables of the interest in a study for the purposes of study and perhaps later data collection. For instance, an over
The technique of sampling used in the ecology for determining how much plants or animals are in a given fixed region. A set of randomly placed lines or points is recognized and the
elements , importance, limitation, and theories
Kalman filter : A recursive procedure which gives an estimate of the signal when only the 'noisy signal' can be observed. The estimate is efficiently constructed by putting the exp
Balanced incomplete block design : A design in which all the treatments are not used in all blocks. Such designs have the below stated properties: * each block comprises the
how to describe association between quantitative and categorical variables
The alternative process to make use of the chi-squared statistic for assessing the independence of the two variables forming a two-by-two contingency table particularly when expect
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