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The graphic representation of the alternatives in a decision making problem which summarizes all the possibilities foreseen by the decision maker. For instance, suppose we are given the below written problem.
A physician should choose between two treatments. The patient is known to have one of the two diseases but the diagnosis is not very certain. A thorough examination of the patient was not able to resolve the diagnostic uncertainty. The best which can be said is that the probability which the patient has disease A is p. An easy decision tree for the problem is shown in the figure drawn below.
Probability distribution : For the discrete random variable, a mathematical formula which provides the probability of each value of variable. See, for instance, binomial distributi
The Null Hypothesis - H0: β0 = 0, H0: β 1 = 0, H0: β 2 = 0, Β i = 0 The Alternative Hypothesis - H1: β0 ≠ 0, H0: β 1 ≠ 0, H0: β 2 ≠ 0, Β i ≠ 0 i =0, 1, 2, 3
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A standard IQ test has a mean of 98 and a standard deviation of 16. We want to be 99% certain that we are within 8 IQ points of the true mean. Determine the sample size
stationary time series
with the help of regression analysis create a model that best describes the situation. Indicate clearly the effect that each factors given in the attached file and other factors ma
Paul Jordan has just been hired as a management analyst at Digital Cell Phone Inc. Digital Cell manufactures a broad line of phones for the consumer market. Paul's boss, John Smith
Bartlett's test for variances : A test for equality of the variances of the number (k)of the populations. The test statistic can be given as follows where s square is an
Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p
Point scoring is an easy distribution free method which can be used for the prediction of a response which is a binary variable from the observations on several explanatory variab
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