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Quincunx is the device used by Galton to illustrate his lectures, which is shown in the Figure. It had a glass face and a funnel at its top. The shot was passed through funnel an
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?
An investor with a stock portfolio sued his broker, claiming that a lack of diversification in his portfolio had led to poor performance. The data, shown below, are the rates of re
Randomized encouragement trial is the clinical trials in which the participants are encouraged to change their behaviour in a particular manner (or not, if they are allocated to
Confounding: A procedure observed in some factorial designs in which it is impossible to differentiate between some main effects or interactions, on the basis of the particular d
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
The biggest and smallest variate values among the sample of observations. Significant in various regions, for instance flood levels of the river, speed of wind and snowfall.
Uncertainty analysis is the process for assessing the variability in the outcome variable that is due to the uncertainty in estimating the values of input parameters. A sensitivit
The Null Hypothesis - H0: γ 1 = γ 2 = ... = 0 i.e. there is no heteroscedasticity in the model The Alternative Hypothesis - H1: at least one of the γ i 's are not equal
The more effective display than a number of other methods or techniques, for instance, pie charts and bar charts, for displaying the quantitative data which are labeled. An instanc
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