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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 least a $40-billion-a-year industry. The popular forms of gambling are basically national lotteries, roulette and horse racing. For these (and diffrenent types of gambling) it is relatively simple to apply statistical methods or techniques to discover the chances of winning, but in no form of gambling does the statistical analysis increase your chances of winning.
Observational study is the study in which the objective is to discover cause-and-effect relationships but in which it is not feasible to use the controlled experimentation, in th
The skewness is a measure of asymmetry and as it is positive at 4.29, it is greater than zero which reveals that the tail extends to the right indicating the distribution to be mor
The growth in bad debt expense for Johnston office supply Company over this time period.If this rate continues,estimate the percentage increase in bad debts for 1997,relative to 19
Paired samples are the two samples of the observations with the characteristic feature with each of the observation in one sample have only one matching observation in the other s
An approach of using the likelihood as the basis of estimation without the requirement to specify a parametric family for data. Empirical likelihood can be viewed as the example of
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
Genetic algorithms: The optimization events motivated by the biological analogies. The prime idea is to try to mimic the 'survival of the fittest' rule of the genetic mutation in
Bayes factor : A summary of evidence for the modelM1 against the another modelM0 provided by the set of data D, which can be used in the model selection. Given by the ratio of post
5. Packages from a machine a normally distributed with a mean 200g and its standard deviation 2grams. Find the probability that a package from the machine weighs a) Less than
Hello , I have a business statistic HW that is due after 23 hours exactly for now . I need full and details answers please , plus they must be in a done and typed in a word or exce
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