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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.
Collector's problem : A problem which derives from the schemes in which packets of a particular brand of coffe, cereal etc., are sold with coupons, cards, or other tokens. There ar
how to constuct design matrix
Zero-inflated Poisson regression is the model for count data with the excess zeros. It supposes that with probability p the only possible observation is 0 and with the probabilit
I need you to help me for Business Statistics class with homework quizzes. Can you help to do it?
Non central distributions is the series of probability distributions each of which is the adaptation of one of the standard sampling distributions like the chi-squared distributio
Common cause failures (CCF): Simultaneous failures of the number of components due to a same reason. A reason can be external to the components, or it can be the single failure wh
Paul Jordan has just been hired as a management analyst at Digital Cell Phone Inc. Digital Cell manufactures a broad line of phones for the consumer market. Paul's boss, John Smith
Response surface methodology (RSM): The collection of the statistical and mathematical methods useful for improving, developing, and optimizing processes with significant applicat
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
Genetic algorithms: The optimization events motivated by the biological analogies. The prime idea is to try to mimic the 'survival of the fittest' rule of the genetic mutation in
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