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Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted to give a appropriate basis for the inferences and the further practical calculations to be done.
Mardia's multivariate normality test is a test that a set of the multivariate data arise from the multivariate normal distribution against departures due to the kurtosis. The test
Lagrange Multiplier (LM) test The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1
A comprehensive regression analysis of the case study London has been carried out to test the 4 assumptions of regression: 1. Variables are normally distributed 2. Linear rel
The approach to data analysis which emphasizes the use of informal graphical procedures not based on former assumptions about structure of the data or on the formal models for the
Mortality odds ratio is the ratio equivalent to the odds ratio used in case-control studies where the equivalent of the cases are deaths from the cause of interest and the equival
Basic reproduction number : A term used in the theory of infectious diseases for the number of secondary cases which one case would generate in a completely susceptible population.
The plot of the number of cases of the disease against the time period. A large and sudden increase corresponds to an epidemic. The example of this is shown in the figure drawn bel
Machine learning is a term which literally means the ability of a machine to recognize patterns which have occurred repetitively and to improve its performance based on the past
A mixture of benzene, toluene, and xylene enters a two-stage distillation process where some of the componentsare recovered. The distillation process operates at steady-state condi
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
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