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An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bin. These statistics are then used to obtain a new sample in each bin to construct a reduced data set with the similar statistical properties to original one.
Hamilton County judges try thousands of cases per year. In an overwhelming majority of the cases disposed, the verdict stands as rendered. However, some cases are appeale
(a) You are trying to develop a strategy for investing in two different stocks, Stock A and Stock B. The anticipated annual return for a $1000 investment in each stock under four
You may have the opportunity to buy some electronic components. These components may be reliable (1) or unreliable (2). The potential pro?ts are £10,000 if the components are rel
The generalization of the normal distribution used for the characterization of functions. It is known as a Gaussian process because it has Gaussian distributed finite dimensional m
Average age at death : A ?awed statistic summarizing expectancy of the life and other aspects of the mortality. For instance, a study comparing average age at the death for male sy
This is an attempt to measure the suffering caused by the illness which takes into the account both the years of the potential life lost due to the premature mortality as well as t
Mean squarederror is the expected value of square of the difference between an estimator and the true value of the parameter. If the estimator is unbiased then the mean of the squ
You have learned that there are 3 major central measures of any data set. Namely: mean, median, and mode. Which of the three, do the outliers affect the most?
how to calculate the semi average method when 8 observations are given?
Cauchy integral : The integral of the function, f (x), from a to b are de?ned in terms of the sum In the statistics this leads to the below shown inequality for the expecte
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