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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.
Time series : The values of a variable recorded, generally at a regular interval, over the long period of time. The observed movement and fluctuations of several such series are
The marketing manager of Handy Foods Ltd. is concerned with the sales appeal of one of the company's present label for one of its products. Market research indicates that supermark
The computer programs designed to mimic the role of the expert human consultant. This type of systems are capable to cope with the complex problems of the medical decision makin
Naor's distribution is the discrete probability distribution which arises from the following model; Assume an urn contains n balls of which one is red and the remainder is whit
Geographical information system (gis): The software and hardware configurations through which the digital georeferences are processed and displayed. Used to recognize the geograph
We are installing a router for our network. We believe that the time between the arrival of packets will be exponentially distributed with parameter R = 2 packets/second, and th
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes. S
Marginal matching is the matching of the treatment groups in terms of means or other summary characteristics of matching variables. This has been shown to be almost as efficient a
In the time series plot and scatter graphs there were many outliers that were clearly visible. These have been removed to identify if they were influential or had high leverage and
Line-intersect sampling is a technique of unequal probability sampling for selecting the sampling units in the geographical area. A sample of lines is drawn in a study area and, w
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