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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.
Lattice distribution : A class of probability distributions to which most of the distributions for discrete random variables used in statistics belongs. In such type of distributio
Balanced incomplete block design : A design in which all the treatments are not used in all blocks. Such designs have the below stated properties: * each block comprises the
A metal fabrication process uses a die-cast metal fastener at a uniform rate of 300 units per year. Currently, this item is currently purchased from an external supplier at a unit
The tabulation of a sample of observations in terms of numbers falling below particular values. The empirical equivalent of the growing probability distribution. An example of such
How large would the sample need to be if we are to pick a 95% confidence level sample: (i) From a population of 70; (ii) From a population of 450; (iii) From a population of 1000;
This is the powerful visualization tool for studying how the response relies on an explanatory variable given the values of other explanatory variables. The plot comprises of a num
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Cluster analysis : A set of methods or techniques for constructing a sensible and informative classi?cation of an initially unclassi?ed set of data, using variable values observed
Codominance : The relationship between genotype at the locus and a phenotype to which it in?uences. If an individuals with heterozygote (such as, AB) genotype is phenotypically dif
Bioassay : It is an abbreviation of biological assay, which in its classical form includes an experiment conducted on biological material to determine relative potency of test and
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