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The distribution over distributions in the sense that each draw from the process is itself the distribution. The name Dirichlet process or procedure is due to the fact that the ?ni
Maximum likelihood estimation is an estimation procedure involving maximization of the likelihood or the log-likelihood with respect to the parameters. Such type of estimators is
Lancaster models : The means of representing the joint distribution of the set of variables in terms of the marginal distributions, supposing all the interactions higher than a par
The marketing manager of Handy Foods Ltd. is concerned with the sales appeal of one of the company's present label for one of its products. Market research indicates that supermark
Hypothesis testing is a general term for procedure of assessing whether the sample data is consistent or otherwise with statements made about the population. It basically tells u
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
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
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
Quality control procedures is the statistical process designed to ensure that the precision and accuracy of, for instance, a laboratory test, are maintained within the acceptable
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
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