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Bayesian confidence interval: An interval of the posterior distribution which is so that the density of it at any point inside the interval is greater than that of the density at any point outside and that the area which comes under the curve for that interval is equal to the prespeci?ed probability level. For any probability level there is basically only one such interval, which is also often called as the highest posterior density area. Unlike the usual con?dence interval related with the frequentist inference, here the intervals state the range within which parameters lie with a certain probability.
Outliers - Reasons for Screening Data Outliers are due to data entry errors, subject is not a member of the population that the sample is trying to represent, or the subject i
Classification and regression tree technique (CART): The alternative to the multiple regression and associated techniques or methods for determining subsets of the explanatory va
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Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
A standard IQ test has a mean of 98 and a standard deviation of 16. We want to be 99% certain that we are within 8 IQ points of the true mean. Determine the sample size
This term sometimes used to describe the extra factor in variance of the sample mean when n sample values are drawn without the replacement from the finite population of size N. Th
i will like to submit my project for you to do on chi-square, ANOVA, and correlation and simple regression. how can we do this?
The analysis of data which are the functions observed continuously, for instance, functions of time. Basically a collection of statistical techniques or methods for answering quest
Remedian: The robust estimator of location which is computed by an iterative process. By assuming that the sample size n can be written as bk where b and k are the integers, the s
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
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