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Random allocation is a technique for creating the treatment and control groups particularly in accordance of the clinical trial. Subjects receive the active treatment or the placebo on the basis of the outcome of a chance event, for instance, tossing a coin. The method gives an impartial procedure for the allocation of treatments to the individuals, free from the personal biases, and ensures a firm footing for application of significance tests and most of the rest of the statistical methodology likely to be taken in use. Additionally the technique distributes the effects of concomitant variables, observed and unobserved both, in a statistically acceptable fashion.
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
historigrams and histogram
1.Sam Lucarelli, owner of Lucarelli Products, is evaluating whether to produce a new product line. After thinking through the production process and the costs of raw materials and
Chebyshev's inequality: A statement about the proportion of the observations which fall within some number of the standard deviations of the mean for any of the probability distri
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
Kalman filter : A recursive procedure which gives an estimate of the signal when only the 'noisy signal' can be observed. The estimate is efficiently constructed by putting the exp
O'Brien's two-sample tests are the extensions of the conventional tests for assessing the differences between treatment groups which take account of the possible heterogeneous nat
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
Sam Tyler, a single taxpayer, social security number 111-44-1111, bought Rental Equipment on 04/01/2010. He paid $400,000 including all closing and delivery costs. In the current y
Principal components analysis is a process for analysing multivariate data which transforms original variables into the new ones which are uncorrelated and account for decreasing
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