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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.
Categorical variable : A variable which provides the appropriate label of observation after the allocation to one of the several possible categories, for instance, the respiratory
Inliers is the term used for the observations most likely to be subject to error in situations where the dichotomy is developed by making a ‘cut’ on an ordered scale, and where th
Kendall's tau statistics : The measures of the correlation between the two sets of rankings. Kendall's tau itself (τ) is the rank correlation coefficient based on number of inversi
The function of a variable t which, when extended formally as a power series in t, yields factorial moments as the coefficients of the respective powers. If the P(t) is probability
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
Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 20 to be 115 or more?
A construction for events that happen in some planar area a, consisting of the series of 'territories' each of which comprises of that part of a closer to the particular event xi t
Common cause failures (CCF): Simultaneous failures of the number of components due to a same reason. A reason can be external to the components, or it can be the single failure wh
Chernoff's faces : A method or technique for representing the multivariate data graphically. Each observation is represented by the computer-created face, the features of which are
The risk of being able to recognize the respondent's confidential information in the data set. Number of approaches has been proposed to measure the disclosure risk some of which c
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