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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 probability 1 p a random variable with the Poisson distribution is observed. For instance, when manufacturing equipment is properly aligned, defects might be almost impossible. But when it is misaligned, defects might happen according to a Poisson distribution. Both probability p of the perfect zero defect state and the mean number of defects λ in the imperfect state might depend on covariates. The parameters in this type of models can be estimated using maximum likelihood estimation.
Weighted least squares is the method of estimation in which the estimates arise from minimizing the weighted sum of squares of the differences between response variable and its pr
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
methods of determining trend in time series?
A test for equality of the variances of the two populations having normal distributions, based on the ratio of the variances of the sample of observations taken from each. Most fre
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
Banach's match-box problem : The person carries two boxes of matches, one in his left and one in his right pocket. At first they comprise N number of matches each. When the person
A name sometimes given to the type of diagram generally used in meta-analysis, in which point estimates and confidence intervals are displayed for all the studies included in the a
Intercropping experiments are the experiments including growing two or more crops at same time on the same patch of land. The crops are not required to be planted nor harvested at
The probability distribution of the various observations is required to obtain the run of two successes in the series of Bernoulli trials with the probability of success equal to a
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
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