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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.
Observational study is the study in which the objective is to discover cause-and-effect relationships but in which it is not feasible to use the controlled experimentation, in th
Interior analysis is the term now and again applied to analysis carried out on the fitted model in regression problem. The basic target of such analyses is the identification of
Bartlett's test for variances : A test for equality of the variances of the number (k)of the populations. The test statistic can be given as follows where s square is an
Hot deck is a method broadly used in surveys for imputing the missing values. In its easiest form the method includes sampling with replacement m values from the sample respondent
Network sampling is a sampling design in which the simple random sample or strati?ed sample of the sampling units is made and all observational units which are linked to any of th
The probability distribution of the various observations is required to obtain the run of two successes in the series of Bernoulli trials with the probability of success equal to a
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
This is an attempt to measure the suffering caused by the illness which takes into the account both the years of the potential life lost due to the premature mortality as well as t
Centile reference charts : Charts which are used inmedicine to observe the clinical measurements on individual patients in the context of the population values. If the population i
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
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