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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.
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
The number of passengers arriving at an airport terminal average 1200 each hour. To process passengers (check in, take luggage, etc) take an average of 6 minutes each. There are
Difference b/w historigram and histogram
Residual plots are the plots of some type of residual which might be helpful in assessing the assumption made by the fitted model. In regression analysis there are various method
Hazard plotting is based on the hazard function of a distribution, this procedure gives estimates of distribution parameters, the proportion of units failing by the given time per
You have probably noticed by now that some of the statements of necessary and sufficient conditions sound more natural than others. For example it seems more natural to express "We
A two-step distillation and mixing process is shown in the figure. The system operates at steady-state conditions and there are no chemical reactions. The known flow rates and comp
Hypothesis testing is a general term for procedure of assessing whether the sample data is consistent or otherwise with statements made about the population. It basically tells u
HOW TO OBTAIN THE LASPEYRES QUANTITY INDEX AND THE FORMULA
This term is sometimes used for the analysis of data from the clinical trial in which treatments A and B are to be compared under the suppositions that the patients remain on their
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