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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.
Line-intersect sampling is a technique of unequal probability sampling for selecting the sampling units in the geographical area. A sample of lines is drawn in a study area and, w
how to resolve sequencing problem if jobs 6 given and 4 machines given. how to apply johnson rule for making to machines under this conditions. please give solution as soon as poss
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
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
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
elements , importance, limitation, and theories
importance of mathamatical expection in business
Briefly explain the importance of forecasting for managers?
1. You are interested in investigating if being above or below the median income (medloinc) impacts ACT means (act94) for schools. Complete the necessary steps to examine univariat
(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
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