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O. J. Simpson paradox is a term coming from the claim made by the defence lawyer in murder trial of O. J. Simpson. The lawyer acknowledged that the statistics demonstrate that onl
Normal approximation : Normal distributions which approximate other distributions; such as, a normal distribution with the mean np and variance np(1 - p) which acts as an approxima
Auto correlation : The correlation of the internal observations in the time series, generally expressed as a function of the time lag between the observations. It is also used for
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
An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company
An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bi
You have probably noticed by now that some of the statements of necessary and sufficient conditions sound more natural than others. For example it seems more natural to express "We
Cascadedparameters: A group of parameters which is interlinked and where selecting the value for the ?rst parameter affects the choice and option available in the subsequent param
Kurtosis: The extent to which the peak of the unimodal probability distribution or the frequency distribution departs from its shape of the normal distribution, by either being mo
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
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