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Bayes factor: A summary of evidence for the modelM1 against the another modelM0 provided by the set of data D, which can be used in the model selection. Given by the ratio of posterior to previous odds,
Twice the logarithm of B10 is on the similar scale as the deviance and the likelihood ratio test statistic. The following scale is many times useful for interpreting the values of B10;
Very sensitive to the assumed previous distribution of the models.
Multi dimensional unfolding is the form of multidimensional scaling applicable to both the rectangular proximity matrices where the rows and columns refer to the different sets of
(a) A plane timetable states that a particular plane is due at 2pm but the actual arrival time isuniformly distributed between 1pm and 3pm. (i) Calculate the probability that th
The procedure in which initially the sample of subjects is selected for generating the auxillary information only, and then the second sample is selected in which the variable of i
Prior distributions : The probability distributions which summarize the information about a random variable or parameter known or supposed at a given time instant, prior to attaini
Bioassay : It is an abbreviation of biological assay, which in its classical form includes an experiment conducted on biological material to determine relative potency of test and
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
The method of summarizing the large amounts of data by forming the frequency distributions, scatter diagrams, histograms, etc., and calculating statistics like means variances and
The type of longitudinal study in which the subjects receive different treatments on the various occasions. Random allocation is required to determine the order in which the treatm
Briefly explain the importance of forecasting for managers?
The studies conducted in the pharmaceutical industry to calculate the degradation of the new drug product or an old drug formulated or packaged in the new manner. The main study ob
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