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Admissibility
A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and only if there does not exist within that particular class of the procedures another one which performs uniformly at least as well as the procedure in question and performs much better than it in at least one case. Here 'uniformly' means for all values of the parameters which decide the probability distribution of the random variables under the investigation.
Construct your initial multivariate model by selecting a dependent variable Y and two independent variables X. Clearly define what each variable represents and how this relates t
Statistical Keys To do statistical operations we must first set the calculator on SD mode [SD stands for "standard deviation" which is the usual st
f(x,y)=c(6-x-y) ,o find P(X+Y
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Median Median is a position average. It is the value of middle item of a variable when the items are arranged according to their values either in ascending or descending order.
The following are the various types of common averages used in statistical analysis given in the form of a chart. Figure 1
The project of building a backyard swimming pool consists of eight major activities and has to be completed within 19 weeks. The activities and related data are given in the follow
HOW WOULD YOU INTERPRET THIS PROBABILITY:P(a)=1.05
Mode Mode is the value of the observation which occurs with the greatest frequency and thus it is the most fashionable value, Mode has been derived from French word La m
Types of cost-reimbursable contracts are: Cost Plus Fixed Fee contract (CPPF): Compensation is based on a fixed sum independent of the final project cost. The customer a
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