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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.
Pie chart is an extensively used graphical technique for presenting relative frequencies related with the observed values of the categorical variable. The chart comprises of a cir
5. Packages from a machine a normally distributed with a mean 200g and its standard deviation 2grams. Find the probability that a package from the machine weighs a) Less than
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
Lagrange Multiplier (LM) test The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1
A construction for events that happen in some planar area a, consisting of the series of 'territories' each of which comprises of that part of a closer to the particular event xi t
Leaps-and-bounds algorithm is an algorithm which is used to ?nd the optimal solution in problems which might have a large number of possible solutions. Begins by dividing the poss
Classification matrix: A term many times used in discriminant analysis for the matrix summarizing the results and outputs obtained from the derived classi?cation rule, and obtaine
Formal graphical representation of the "causal diagrams" or the "path diagrams" where the relationships are directed but acyclic (that is no feedback relations allowed). Plays an
The transformation of the Pearson's product moment correlation coefficient, r, can be given by The statistic z has the normal distribution with mean here ρ is the pop
Line-intersect sampling is a technique of unequal probability sampling for selecting the sampling units in the geographical area. A sample of lines is drawn in a study area and, w
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