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an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
The process of providing the numerical value for the population parameter on the basis of information gathered from a sample. If a single ?gure is computed for the unknown paramete
Per-experiment error rate is the possibility of the incorrectly rejecting at least one null hypothesis or assumption in the experiment including one or more tests or comparisons,
Banach's match-box problem : The person carries two boxes of matches, one in his left and one in his right pocket. At first they comprise N number of matches each. When the person
Jelinski Moranda model is t he model of software reliability which supposes that failures occur according to the Poisson process with a rate decreasing as more faults are diagnos
data modelling
The contingency tables in which the row and column both the categories follow a natural order. An instance for this might be, drug toxicity ranging from mild to severe, against the
we are testing : Ho: µ=40 versus Ha: µ>40 (a= 0.01) Suppose that the test statistic is z0=2.75 based on a sample size of n=25. Assume that data are normal with mean mu and standa
Contour plot : A topographical map drawn from data comprising observations on the three variables. One variable is represented on horizontal axis and the second variable is represe
This process of estimating from a data set those values lying beyond range of the data. In the regression analysis, for instance, a value of the response variable might be estimate
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