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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.
An auditor for a government agency needs to evaluate payments for doctors' office visits paid by Medicare in a small regional town during the month of June. A total of 25,056 visit
Bayesian network : It is essentially an expert system in which the uncertainty is dealt with using the conditional probabilities and Bayes' Theorem. Formally such type of network c
Mantel Haenszel estimator is an estimator of assumed common odds ratio in the series of two-by-two contingency tables arising from the different populations, for instance, occ
This is extension of the EM algorithm which typically converges more slowly than EM in terms of the iterations but can be much faster in the whole computer time. The general idea o
Conjoint analysis : The method used basically in market research which is similar in many respects to the various dimensional scaling. The method attempts to assign values to the l
The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedasticity errors and no heteroscedasticity exists The Alternative Hypothesis - H1: β 1 ≠ 0 i.e. there is no homoscedasti
Hot deck is a method broadly used in surveys for imputing the missing values. In its easiest form the method includes sampling with replacement m values from the sample respondent
Build-Rite construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, s
Bubble plot : A method or technique for displaying the observations which involve three variable values. Two of the variables are used to make a scatter diagram and values of the t
In the time series plot and scatter graphs there were many outliers that were clearly visible. These have been removed to identify if they were influential or had high leverage and
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