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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.
The approach to statistics based on a frequency view of probability in which it is supposed that it is possible to consider an in?nite sequence of the independent repetitions of th
Principal components analysis is a process for analysing multivariate data which transforms original variables into the new ones which are uncorrelated and account for decreasing
An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company
a company suppliers specialized, high tensile Pins to customers. It uses an automatic lathe to produce the pins. Due to the factors such as vibration, temperature and wear and tear
how to describe association between quantitative and categorical variables
Isobologram is a diagram used to characterize the interactions among jointly administered drugs or the chemicals. The contour of the constant response (that is the isobole), which
re-reference all these indexes
Weathervane plot is the graphical display of the multivariate data based on bubble plot. The latter is enhanced by the addiction of the lines whose lengths and directions code the
Historical controls : The group of patients treated in the past with the standard therapy, taken in use as the control group for evaluating the new treatment on the present patient
The scatter plots of SRES1, RESI1 versus totexp demonstrates that there is non-linear relationship that exists as most of the points are below and above zero. The scatter plots sho
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