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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.
The scatter plots of SRES1, RESI1 versus totexp demonstrates that there is non-linear relationship that exists as most of the points are below and above zero. The scatter plots sho
The term used when the aggregated data (for instance, aggregated over different areas) are analysed and the results supposed to apply to the relationships at the individual level.
Weighted least squares is the method of estimation in which the estimates arise from minimizing the weighted sum of squares of the differences between response variable and its pr
The Null Hypothesis - H0: β 1 = 0 i.e. there is homoscedasticity errors and no heteroscedasticity exists The Alternative Hypothesis - H1: β 1 ≠ 0 i.e. there is no homoscedasti
Committees to monitor the accumulating data from the clinical trials. Such committees have chief responsibilities for ensuring the continuing safety of the trial participants, rele
How to estimate MLE for statistical anslysis using Markov Model?
Infant mortality rate is the ratio of the number of deaths during the calendar year among the infants under one year of age to the total number of live births during that particul
An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bi
1. define statistical algorithms 2. write the flow charts for statistical algorithms for sums, squares and products. 3. write flow charts for statistical algorithms to generates ra
Normal approximation : Normal distributions which approximate other distributions; such as, a normal distribution with the mean np and variance np(1 - p) which acts as an approxima
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