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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.
Activity Description Create an MS Word document by cutting and pasting SPSS output into the document. Complete the following: Use an existing dataset to compute a factorial AN
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Influence statistics: The range of statistics designed to assess the effect or the in?uence of an observation in determining results of the regression analysis. The general approa
Partial least squares is an alternative to the multiple regressions which, in spite of using the original q explanatory variables directly, constructs the new set of k regressor v
Difference b/w historigram and histogram
Omitted covariates is a term generally found in the connection with regression modelling, where the model has been incompletely specified by not including significant covariates.
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
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
Randomized response technique : The procedure for collecting the information on sensitive issues by means of the survey, in which an element of chance is introduced as to what quer
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
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