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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.
Probability weighting is the procedure of attaching weights equal to inverse of the probability of being selected, to each respondent's record in the sample survey. These weights
Thomas Economic Forecasting, Inc. and Harmon Econometrics have the same mean error in forecasting the stock market over the last ten years. However, the standard deviation for Thom
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;
Knox's tests: These tests designed to detect any tendency for the patients with a particular disease to form the disease cluster in time and space. The tests are relied on a two-b
Interim analyses : An analysis made before the planned end of a clinical trial, typically with the aim of detecting the treatment differences at the early stage and thus preventing
Cluster sampling : A method or technique of sampling in which the members of the population are arranged in groups (called as 'clusters'). A number of clusters are selected at the
The theorem relating structure of the likelihood to the concept of the sufficient statistic. Officially the necessary and sufficient condition which a statistic S be sufficient for
The results of a survey determined whether the age of a driver 21 years and older has any effect on the number of motor vehicle accidents in which he/she is involved. Question 1:
meaning,uses,shortcomings and drawbacks of vital statistics
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
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