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Coincidences: Astonishing concurrence of the events, perceived as meaningfully related, with no apparent causal connection. Such type of events abounds in everyday life and is often the source of some amazement. As pointed out by Fisher, though, 'the one chance in a million will undoubtedly happen, with no less and no more than its appropriate frequency, however surprised we may be.
Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des
Bioinformatics : Essentially the application of the information theory to biology to deal with the deluge of the information resulting from the advances in molecular biology. The m
The rapid development or growth of the disease in a community or region. Statistical thinking has made very much significant contributions to the understanding of such type of phen
The distribution free or technique which is the analogue of the analysis of variance for the design with two factors. It can be applied to data sets which do not meet the assumptio
sales per day for a product are as follows: x= 10, 11, 12, 13 (p)= 0.2, 0.4, 0.3, 0.1 obtain mean and variance of daily sale. if the profit is described by the following equation p
This term applied in the context of comparing the different methods and techniques of estimating the same parameter; the estimate with the lowest variance being regarded as the mos
Regression diagnostics is the process designed to investigate the suppositions underlying particular forms of regression examination, for instance, homogeneity of variance, norma
The Null Hypothesis - H0: Model does not fit the data i.e. all slopes are equal to zero β 1 =β 2 =...=β k = 0 The Alternative Hypothesis - H1: Model does fit the data i.e. at
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
Censored observations : An observation xi on some variable of interest is consired to be censored if it is known that xi Li (left-censored)or xi Ui (right-censored) where Li and Ui
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