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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
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
Recurrence risk : Usually the probability that an individual experiences an event of interest given previous experience(s) of the event; for example, the probability of recurrence
Hazard function : The risk which an individual experiences an event in a small time interval, given that the individual has survived up to the starting of the interval. It is th
The number of employees absent from work at a large electronics manufacturing plant over aperiod of 106 days is given in the table below. 146 141 139 140 145 141 142 131 142 140
Principal components regression analysis is a process often taken in use to overcome the problem of multicollinearity in the regression, when simply deleting a number of the expla
Labour force survey : This survey carried out in the UK on the quarterly basis since the spring of year 1992. It covers 60 000 households and gives labour force and other detail
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1) Let N1(t) and N2(t) be independent Poisson processes with rates, ?1 and ?2, respectively. Let N (t) = N1(t) + N2(t). a) What is the distribution of the time till the next epoch
Zero-inflated Poisson regression is the model for count data with the excess zeros. It supposes that with probability p the only possible observation is 0 and with the probabilit
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