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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.
This term sometimes used to describe the extra factor in variance of the sample mean when n sample values are drawn without the replacement from the finite population of size N. Th
Opreation research phase
Briefly explain the importance of forecasting for managers?
Asymmetric proximity matrices : Proximity matrices in which the non-diagonal elements, in the ith row and jth column and the jth row and ith column, are not essentially equal. Exam
The probability distribution which is a linear function of the number of component probability distributions. This type of distributions is used to model the populations thought to
Ordination is the procedure of reducing the dimensionality (that is the number of variables) of multivariate data by deriving the small number of new variables which contain much
The estimator of the group by the time period interaction in a study in which the subjects in two different groups are observed in two different time periods. Normally one of th
Lorenz curve : Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically in
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 technique of sampling used in the ecology for determining how much plants or animals are in a given fixed region. A set of randomly placed lines or points is recognized and the
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