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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.
Matching is the method of making a study group and a comparison group comparable with respect to the extraneous factors. Generally used in the retrospective studies when selecting
1. The production manager of Koulder Refrigerators must decide how many refrigerators to produce in each of the next four months to meet demand at the lowest overall cost. There i
Cochrane collaboration : An international network of the individuals committed to preparing , maintaining and disseminating the systematic reviews of the effects of the health care
Regression through the origin : In some of the situations a relationship between the two variables estimated by the regression analysis is expected to pass by the origin because th
Invariant transformations to combine marginal probability functions to form multivariate distributions motivated by the need to enlarge the class of multivariate distributions beyo
Opreation research phase
The time series for RESI1, HI1 and COOK1 have appeared again with different outlier values even though the 17 outliers found early were removed.
How large would the sample need to be if we are to pick a 95% confidence level sample: (i) From a population of 70; (ii) From a population of 450; (iii) From a population of 1000;
1.Sam Lucarelli, owner of Lucarelli Products, is evaluating whether to produce a new product line. After thinking through the production process and the costs of raw materials and
The division of a sample of observations into several classes, together with the number of observations in each of them. It acts as a useful summary of the main features of the da
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