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Monty Hall problem: A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a participant is shown three doors behind one of which is the valuable prize and behind the other two are the booby prizes. The participant selects the door and then, before the opted door is opened, the host opens one the two left behind doors to reveal one of the booby prizes. The participant is asked if he/she would like to stay with originally selected door or switch to the other, as yet, unopened door. Number of people think that the switching doors makes no difference to the probability of winning the valuable prize but several people are wrong because switching doubles this probability from a third to two thirds.
Harris and Stevens forecasting is the method of making short term forecasts in the time series which is subject to abrupt changes in pattern and the transient effects. Instances o
Mean-range plot is the graphical tool or device useful in selecting a transformation in the time series analysis. The range is plotted against the mean for each of the seasona
Reliability theory is the theory which attempts to determine the reliability of the complex system from knowledge of the reliabilities of the components. Interest might centre on
Captures recapture sampling : Another approach to a census for estimating the size of population, which operates by sampling the population number of times, identifying the individ
Percentile : The set or group of divisions which produce exactly 100 equal parts in the series of continuous values, like blood pressure, height, weight, etc. Hence a person with b
VIF is the abbreviation of variance inflation factor which is a measure of the amount of multicollinearity that exists in a set of multiple regression variables. *The VIF value
Different approaches to the study of early indian history
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
Quasi-experiment is a term taken in use for studies which resemble experiments but are weak on some of the characteristics, particularly that allocation of the subjects to groups
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
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