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The term which is used in the industrial experimentation, where there is commonly a large set of candidate factors believed to have the possible significant influence on the response of interest, but where it is reasonable to suppose that a small fraction are influential only.
Least significant difference test is an approach to comparing a set of means which controls the family wise error rate at some specific level, let's assume it to be α. The hypothe
The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1 0 Reject H0 if Q = ESS/2 >
Models which make use of the smoothing techniques such as locally weighted regression to identify and represent the possible non-linear relationships between the explanatory and th
An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is oil in the ground, the soil test comes
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
stationary time series
Randomized consent design is the design at first introduced to overcome some of the perceived ethical problems facing clinicians entering patients in the clinical trials including
Pattern recognition is a term for a technology that recognizes and analyses patterns automatically by machine and which has been used successfully in many areas of application inc
Designs which permits two or more questions to be addressed in the investigation. The easiest factorial design is one in which each of the two treatments or interventions are p
Prior distributions : The probability distributions which summarize the information about a random variable or parameter known or supposed at a given time instant, prior to attaini
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