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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.
Captures recapture sampling : Another approach to a census for estimating the size of population, which operates by sampling the population number of times, identifying the individ
Harris and Stevens forecasting is the method of making short term forecasts in the time series which is subject to abrupt changes in pattern and the transient effects. Instances o
Last observation carried forward is a technique for replacing the observations of the patients who drop out of the clinical trial carried out over a time period. It consists of su
A manufacturing company has two factories F 1 and F 2 producing a certain commodity that is required at three retail outlets M 1 , M 2 and M 3 . Once produced, the commodity is
Conjugate prior : The distribution for samples from the particular probability distribution such that the posterior distribution at each stage of the sampling is of the identical f
difference between histogram and historigram
Computer-intensive methods : The statistical methods which require almost identical computations on the data repeated number of times. The term computer intensive is, certainly, a
Advantages and disadvantages of Integrated Economic Statistics
Recursive models are the statistical models in which the causality flows in one direction, that is models which include only unidirectional effects. Such type of models do not inc
The number of employees absent from work at a large electronics manufacturing plant over aperiod of 106 days is given in the table below. 146 141 139 140 145 141 142 131 142 140
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