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This term applied in the context of comparing the different methods and techniques of estimating the same parameter; the estimate with the lowest variance being regarded as the mos
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
The GRE has a combined verbal and quantitative mean of 1000 and a standard deviation of 200.
Bayesian confidence interval : An interval of the posterior distribution which is so that the density of it at any point inside the interval is greater than that of the density at
what is goal post mentality?
A law supposedly applicable to voting behaviour which has a history of several decades. It may be stated thus: Consider a two-party system and suppose that the representatives of t
This is the branch of mathematics which deals with the theory of contests between two or more players under the specified sets of rules. The subject supposes a statistical aspect w
Nearest-neighbour methods are the methods of discriminant analysis are based on studying the training set subjects much similar to the subject to be classified. Classification mig
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
Discuss the use of dummy variables in both multiple linear regression and non-linear regression. Give examples if possible
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