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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.
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes. S
Missing Data - Reasons for screening data In case of any missing data, the researcher needs to conduct tests to ascertain that the pattern of these missing cases is random.
Window variables are the variables measured during the constrained interval of an observation period which is accepted as the proxies for the information over the whole period. Fo
Ask quesoil 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 com
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
It is the technique used in the clinical trials when it is possible to make an acceptable place before an active treatment but not to make the two active treatments identical. In t
Non linear mapping (NLM ) is a technique for obtaining a low-dimensional representation of the set of multivariate data, which operates by minimizing a function of the differences
An approach to investigations designed to recognize a particular medical condition in the large population, usually by means of a blood test, which might result in the considerable
literature review of latin square design.
The Null Hypothesis - H0: There is no autocorrelation The Alternative Hypothesis - H1: There is at least first order autocorrelation Rejection Criteria: Reject H0 if LBQ1 >
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