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Probability distribution: For the discrete random variable, a mathematical formula which provides the probability of each value of variable. See, for instance, binomial distribution and Poisson distribution. For the continuous random variable, a curve described by the mathematical formula which specifies, by way of area under the curve, the probability which the variable falls within the particular interval. Examples comprise the normal distribution and the exponential distribution. In both the cases the term probability density might also be used. (A distinction is sometimes made among 'density' and 'distribution', when the latter is reserved for probability that the random variable comes below some value. In this dictionary, though, the latter will be termed the cumulative probability distribution and the probability distribution and probability density both are used synonymously.
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It is the art of attempting to exchange something quite small and certain, for something which are large and uncertain. Gambling is big business; in the US, for instance, it is at
Median absolute deviation (MAD) : It is the very robust estimator of the scale given by the following equation or, in other words we can say that, the median of the absolute
Zero sumgame is a game played by the number of persons in which the winner takes all stakes given by the losers so that the algebraic sum of gains at any stage is zero. Number of
Genstat: The basic purpose piece of statistical software for the management and the analysis of data. The package incorporates the wide variety of data handling events and a wi
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
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
Principal components analysis is a process for analysing multivariate data which transforms original variables into the new ones which are uncorrelated and account for decreasing
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Multi co linearity is the term used in the regression analysis to indicate situations where the explanatory variables are related by a linear function, making the inference of the
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