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Law of likelihood: Within framework of the statistical model, a particular set of data supports one statistical hypothesis or assumption better than another if the likelihood of the first hypothesis, on the data, becomes greater than the likelihood of the second hypothesis.
Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:
The procedure in which the prior distribution is required in the application of Bayesian inference, it is determined from empirical evidence, namely same data for which the posteri
Marginal matching is the matching of the treatment groups in terms of means or other summary characteristics of matching variables. This has been shown to be almost as efficient a
A unified approach to all problems of prediction, estimation, and hypothesis testing. It is based on concept of the decision function, which tells the performer of experiment how t
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?
hello I have a dataset including both categorical & numerical variable for market segmentation.how can i cluster them via k-means in matlab? thank you
Inliers is the term used for the observations most likely to be subject to error in situations where the dichotomy is developed by making a ‘cut’ on an ordered scale, and where th
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
a psychic claims to be able to "feel colors" there are three pieces of colored paper(red, blue,green) he will place his hand on radomly selected pieces while blindfolded. you perfo
The values assigned to factors for the individual sample units in a factor analysis. The most common approach is "regression method". When the factors are seen as the random variab
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