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Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
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 pa
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
Procrustes analysis is a technique of comparing the alternative geometrical representations of a group of multivariate data or of the proximity matrix, for instance, two competing
Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 20 to be 115 or more?
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Confidence profile method : A Bayesian approach to meta-analysis in which the information in each piece of the evidence is captured in the likelihood function which is then used al
Half-normal plot is a plot for diagnosing the model inadequacy or revealing the presence of outliers, in which the absolute values of, for instance, the residuals from the multipl
Described by the leading proponent as 'the conscientious, explicit, and judicious uses of present best evidence in making the decisions about the care of individual patients, and
Cellular proliferation models : Models are used to describe the growth of the cell populations. One of the example is the deterministic model where N(t) is the number of cel
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