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Probability judgements: Human beings often require assessing the probability which some event will occur and accuracy of these probability judgements often determines success of our actions and our decisions. There is strong evidence that the human probability judgements are biased on the overestimation of low probabilities.
Ask questioThe finance manager of ‘Softy’ baby soap manufacturing company being successful in the first two years of the company’s operations is considering setting up another plan
Ordination is the procedure of reducing the dimensionality (that is the number of variables) of multivariate data by deriving the small number of new variables which contain much
The Null Hypothesis - H0: There is autocorrelation The Alternative Hypothesis - H1: There is no autocorrelation Rejection Criteria: Reject H0 (n-s)R 2 > = (1515 - 4) x (0.
calculate absorbance value from concentration
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
Lexis diagram is the diagram for displaying the simultaneous effects of the two time scales (generally age and calendar time) on a rate. For instance, mortality rates from cancer
An investor with a stock portfolio sued his broker, claiming that a lack of diversification in his portfolio had led to poor performance. The data, shown below, are the rates of re
Centile reference charts : Charts which are used inmedicine to observe the clinical measurements on individual patients in the context of the population values. If the population i
Particlefilters is a simulation method for tracking moving target distributions and for reducing computational burden of the dynamic Bayesian analysis. The method uses a Markov ch
Paired samples are the two samples of the observations with the characteristic feature with each of the observation in one sample have only one matching observation in the other s
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