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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.
Cointegration : The vector of not motionless time sequence is said to be cointegrated if the linear combination of the individual series is stationary. Facilitates suitable testing
#how to analyse data
Regression to the mean is the procedure first noted by Sir Francis Galton that 'each peculiarity in man is shared by his kinsmen, but on average to the less degree.' Hence the ten
Data theory is anxious with how observations are transformed into data which can be analyzed. Data are thus viewed as the theory laden in the sense that the observations can be giv
Bayesian network : It is essentially an expert system in which the uncertainty is dealt with using the conditional probabilities and Bayes' Theorem. Formally such type of network c
Hello , I have a business statistic HW that is due after 23 hours exactly for now . I need full and details answers please , plus they must be in a done and typed in a word or exce
Basic reproduction number : A term used in the theory of infectious diseases for the number of secondary cases which one case would generate in a completely susceptible population.
Ask questioThe finance manager of ‘Softy’ baby soap manufacturing company being successful in the first two years of the company’s operations is considering setting up another plan
Response feature analysis is the approach to the analysis of longitudinal data including the calculation of the suitable summary measures from the set of repeated measures on each
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
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