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Interim analyses: An analysis made before the planned end of a clinical trial, typically with the aim of detecting the treatment differences at the early stage and thus preventing as many number of patients as possible receiving an 'inferior' treatment. Such type of analyses is often problematical particularly if carried out in the haphazard and unplanned trend.
Maximum likelihood estimation is an estimation procedure involving maximization of the likelihood or the log-likelihood with respect to the parameters. Such type of estimators is
a sequence of numbers consist of six 6''s seven 7''s eight 8''s nine 9''s ten 10''s what is the arithmetic mean?
Orthogonal is a term which occurs in several regions of the statistics with different meanings in each case. Most commonly the encountered in the relation to two variables or t
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
Hazard plotting is based on the hazard function of a distribution, this procedure gives estimates of distribution parameters, the proportion of units failing by the given time per
You and your team have been hired as strategic consultants by the hugely successful retailer known as “Cutie Pie”. The company sells many products, although one product in particul
Opreation research phase
Computer-intensive methods : The statistical methods which require almost identical computations on the data repeated number of times. The term computer intensive is, certainly, a
Thomas Economic Forecasting, Inc. and Harmon Econometrics have the same mean error in forecasting the stock market over the last ten years. However, the standard deviation for Thom
The method of summarizing the large amounts of data by forming the frequency distributions, scatter diagrams, histograms, etc., and calculating statistics like means variances and
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