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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.
Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 20 to be 115 or more?
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PRINCIPLES OF MODELLING IN OR.
Recurrence risk : Usually the probability that an individual experiences an event of interest given previous experience(s) of the event; for example, the probability of recurrence
how does it work exactly
Catastrophe theory : A theory of how little is the continuous changes in the independent variables which can have unexpected, discontinuous effects on the dependent variables. Exam
Using World Bank (2004) World Development Indicators; Washington: International Bank for Reconstruction & Development/ The World Bank, located in the reference section of the Learn
The measure of the degree to which the particular model differs from the saturated model for the data set. Explicitly in terms of the likelihoods of the two models can be defined a
In an experiment, power is a function of 1. The number of variables being measured and the beta level 2. The effect size, internal validity and the beta level 3. The number of part
An analyst counted 17 A/B runs and 26 time series observations. Do these results suggest that the data are nonrandom? Explain
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