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Prior distributions : The probability distributions which summarize the information about a random variable or parameter known or supposed at a given time instant, prior to attaini
Cauchy integral : The integral of the function, f (x), from a to b are de?ned in terms of the sum In the statistics this leads to the below shown inequality for the expecte
Outliers - Reasons for Screening Data Outliers are due to data entry errors, subject is not a member of the population that the sample is trying to represent, or the subject i
This is given by common network e.g. Phone Company. The public networks are those networks, which are given by common carriers. It can be a telephone company or an other organizati
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
Occam's razor is an early statement of the parsimony principle, which was given by William of Occam (1280-1349) namely 'entia non sunt multiplicanda praeter necessitatem'; which m
You have learned that there are 3 major central measures of any data set. Namely: mean, median, and mode. Which of the three, do the outliers affect the most?
Reliability theory is the theory which attempts to determine the reliability of the complex system from knowledge of the reliabilities of the components. Interest might centre on
Models which make use of the smoothing techniques such as locally weighted regression to identify and represent the possible non-linear relationships between the explanatory and th
The plot of the number of cases of the disease against the time period. A large and sudden increase corresponds to an epidemic. The example of this is shown in the figure drawn bel
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