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National lotteries: Games of chance held to heave money for particular causes. The first held in the UK took place in the year 1569 principally to raise money for repair of the Cinque Ports. There were nearly 400 000 tickets or lots, with prizes in the form of the plate, tapestries and money.
Nowadays lotteries are held in several countries with proceeds either used to augment the exchequer or to fund the good causes. The current UK version began in November in the year1994 and consists of selecting six numbers from 49 for a one pound bet. The winning numbers are drawn 'at random' using one of the number of 'balls-in-drum' type of the machine.
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 bi
sales per day for a product are as follows: x= 10, 11, 12, 13 (p)= 0.2, 0.4, 0.3, 0.1 obtain mean and variance of daily sale. if the profit is described by the following equation p
It is the diagram used to display the values graphically in a frequency distribution. The frequencies are graphed as an ordinate against the class mid-points as abscissae. The p
This term is sometimes used for the analysis of data from the clinical trial in which treatments A and B are to be compared under the suppositions that the patients remain on their
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
Confidence interval : A range of the values, calculated from the sample observations which is believed, with the particular probability, to posses the true parameter value. A 95% c
The Null Hypothesis - H0: γ 1 = γ 2 = ... = 0 i.e. there is no heteroscedasticity in the model The Alternative Hypothesis - H1: at least one of the γ i 's are not equal
Probit analysis is the technique most commonly employed in the bioassay, specifically toxicological experiments where the group of animals is subjected to known levels of a toxin
An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company
Common cause failures (CCF): Simultaneous failures of the number of components due to a same reason. A reason can be external to the components, or it can be the single failure wh
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