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Personal probabilities: A radically special approach for allocating probabilities to events than, for instance, the commonly used long-term relative frequency approach. In this type of approach, probability represents the degree of belief in a proposition, based on the entire information.
The two people with different information and different subjective ignorance might therefore assign different probabilities to the same proposition. The only constraint is that the single person's probabilities must not be inconsistent. Person-years at risk Units of measurement which combine the persons and time by summing individual units of the time (the years and fractions of years) during which subjects in a study population have been exposed to the threat of the result under study. A person-year is equivalent of the experience of one individual for one year.
Kendall's tau statistics : The measures of the correlation between the two sets of rankings. Kendall's tau itself (τ) is the rank correlation coefficient based on number of inversi
Paired availability design is a design which can lessen selection bias in the situations where it is not possible to use random allocation of the subjects to treatments. The desig
Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted t
Particlefilters is a simulation method for tracking moving target distributions and for reducing computational burden of the dynamic Bayesian analysis. The method uses a Markov ch
Helmert contrast is the contrast often used in analysis of the variance, in which each level of a factor is tested against average of the remaining levels. So, for instance, if th
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
Pascal's triangle is an arrangement of numbers described by Pascal in his Traité du Triangle Arithmétique published in the year 1665 as 'The number in each cell is equal to in the
HOW TO CONSTRUCT A BIVARIATE FREQUENCY DISTRIBUTION
Zero sumgame is a game played by the number of persons in which the winner takes all stakes given by the losers so that the algebraic sum of gains at any stage is zero. Number of
I have a problem I am trying to solve. An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is
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