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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.
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
The objective of this assignment is to test your understanding in the learning outcome (LO2) and learning outcome (LO3) and learning outcome (LO4). 1) This is a grouped assignme
Advantages and disadvantages of Integrated Economic Statistics
The special cases of the probability distributions in which the random variable's distribution is concentrated at one point only. For instance, a discrete uniform distribution when
Artificial neural network : A mathematical arrangement modelled on the human neural network and designed to attack various statistical problems, particularly in the region of patte
Demographic data: Age: continuous variable Gender: categorical variable with males coded 1, females coded 2. Relationship status: categorical variable 1 to 5. Rational
The model which is applicable to the longitudinal data in which the dropout process might give rise to the informative lost values. Specifically if the study protocol specifies the
You and your team have been hired as strategic consultants by the hugely successful retailer known as “Cutie Pie”. The company sells many products, although one product in particul
Probabilistic matching is a method developed to maximize the accuracy of the linkage decisions based on the level of agreement and disagreement among the identifiers on different
Randomized consent design is the design at first introduced to overcome some of the perceived ethical problems facing clinicians entering patients in the clinical trials including
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