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Calibration: A procedure which enables a series of simply obtainable but inaccurate measurements of some quantity of interest to be used to provide more precise estimates of the required values. Assume, for instance, there is a well-established, accurate process of measuring the concentration of a given chemical compound, but that it is too expensive and cumbersome for routine use. A cheap and simple to apply an alternative is developed that is, though, known to be imprecise and possibly subject to bias. By using both methods or ways over a range of concentrations of compound, and applying regression analysis to the values from the cheap way and the corresponding values from accurate method, a calibration curve can be constructed which may, in future applications, be used to read off the estimates of the needed concentration from the values given by less involved, inaccurate procedure.
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
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A family of the probability distributions of the form given as here θ is the parameter and a, b, c, d are the known functions. It includes the gamma distribution, normal dis
Wilcoxon's ranksum test is the distribution free method or technique used as an alternative to the Student's t-test for assessing whether two populations have the same location. G
Recursive models are the statistical models in which the causality flows in one direction, that is models which include only unidirectional effects. Such type of models do not inc
Bootstrap : The data-based simulation method/technique for the statistical inference which can be used to study the variability of the estimated characteristics of the probability
Quincunx is the device used by Galton to illustrate his lectures, which is shown in the Figure. It had a glass face and a funnel at its top. The shot was passed through funnel an
Partial least squares is an alternative to the multiple regressions which, in spite of using the original q explanatory variables directly, constructs the new set of k regressor v
Nearest-neighbour methods are the methods of discriminant analysis are based on studying the training set subjects much similar to the subject to be classified. Classification mig
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