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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.
Wilcoxon's ranksum test is the distribution free method or technique used as an alternative to the Student's t-test for assessing whether two populations have the same location. G
Cointegration : The vector of not motionless time sequence is said to be cointegrated if the linear combination of the individual series is stationary. Facilitates suitable testing
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
Bootstrap : The data-based simulation method/technique for the statistical inference which can be used to study the variability of the estimated characteristics of the probability
Maximum likelihood estimation is an estimation procedure involving maximization of the likelihood or the log-likelihood with respect to the parameters. Such type of estimators is
The term used when the aggregated data (for instance, aggregated over different areas) are analysed and the results supposed to apply to the relationships at the individual level.
Personal probabilities : A radically special approach for allocating probabilities to events than, for instance, the commonly used long-term relative frequency approach. In this ty
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
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
The distribution over distributions in the sense that each draw from the process is itself the distribution. The name Dirichlet process or procedure is due to the fact that the ?ni
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