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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.
Bonferroni correction : A procedure for guarding against the rise in the probability of a type I error when performing the multiple signi?cance tests. To maintain probability of a
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
importance of mathamatical expection in business
The total amount of protein produced by a dairy cow can be estimated from periodic testing of her milk. The following are the total annual protein production values (lb) for 28 tw
Outliers - Reasons for Screening Data Outliers are due to data entry errors, subject is not a member of the population that the sample is trying to represent, or the subject i
Higher criticism is a multiple-comparison test concept arising from the situation where there are number of independent tests of significance and interest lies in the rejecting jo
An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company
Whats the independent variable in the following sentence? -1) In a drug prevention program for boys and girls, will family-participation result in effective drug use reduction?
Difference between tretment design and experimental design
Bayes factor : A summary of evidence for the modelM1 against the another modelM0 provided by the set of data D, which can be used in the model selection. Given by the ratio of post
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