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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.
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
4-13. Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previou
methods of measuring trend
This term is sometimes used for the data collected in those longitudinal studies in which more than the single response variable is recorded for each subject on each occasion. For
Mosaic displays is the graphical display of the standardized residuals from the fitting a log-linear model to a contingency table in which the colour and outline of the mosaic's '
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
Regression dilution is the term which is applied when a covariate in the model cannot be measured directly and instead of that a related observed value must be used in analysis. I
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Paired availability design is a design which can lessen selection bias in the situations where it is not possible to use random allocation of the subjects to treatments. The desig
Remedian: The robust estimator of location which is computed by an iterative process. By assuming that the sample size n can be written as bk where b and k are the integers, the s
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