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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.
Artificial neural network : A mathematical arrangement modelled on the human neural network and designed to attack various statistical problems, particularly in the region of patte
This is the powerful visualization tool for studying how the response relies on an explanatory variable given the values of other explanatory variables. The plot comprises of a num
facts and statistics about daycare
Interim analyses : An analysis made before the planned end of a clinical trial, typically with the aim of detecting the treatment differences at the early stage and thus preventing
Regression to the mean is the procedure first noted by Sir Francis Galton that 'each peculiarity in man is shared by his kinsmen, but on average to the less degree.' Hence the ten
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
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
explain the graphical method of measure of central tendency
Multilevel models are the regression models for the multilevel or clustered data where units i are nested in the clusters j, for example a cross-sectional study where students are
Chebyshev's inequality: A statement about the proportion of the observations which fall within some number of the standard deviations of the mean for any of the probability distri
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